XRP News Today: XRP Hits Bullish MVRV Golden Cross Amid Legal Clarity and 11% Weekly Gain

XRP has triggered a rare on-chain bullish signal known as the MVRV "golden cross," an event historically linked to substantial price surges. The MVRV (Market Value to Realized Value) ratio, which measures the profitability of coinholders by comparing market value to the cumulative value of all coins at the time they were last transacted, has recently crossed above its 200-day moving average, suggesting improved market sentiment and potential for upward momentum [1]. This rare occurrence has sparked renewed interest among investors, particularly given its historical association with significant price gains, including 630% and 54% surges in previous instances.

Currently trading at $3.32, XRP has gained 11% over the past week [1]. If the 54% rally pattern repeats, the price could reach approximately $5.11. A more aggressive scenario, mirroring the 630% increase seen in the past, could push the price as high as $24 [1]. Analysts have forecasted XRP reaching between $10 and $27 in this cycle, aligning with the potential for a substantial rally [1].

The recent price action has been supported by structural improvements in the market. XRP broke out of a falling wedge and crossed above the $3 level, reinforcing the bullish case [3]. In a short period, the token experienced a 25% rally, attracting attention from traders and investors who perceive growing confidence in XRP’s future [3]. This momentum is further supported by a broader market backdrop, including Tether’s recent $7 billion increase in USDT supply since July 1, which has been viewed as favorable for altcoins [2].

The resolution of the long-standing legal battle between Ripple Labs and the SEC has also contributed to the positive outlook. With both parties agreeing to dismiss all appeals, a major source of uncertainty for XRP has been removed. This legal clarity has strengthened the token’s long-term prospects and raised the possibility of a new all-time high [1]. The positive market sentiment is further reflected in XRP’s futures activity, which saw a 208% surge in 24-hour trading volume to $12.4 billion, surpassing Solana [1]. Open interest also increased by 15% to $5.9 billion, indicating heightened speculative interest [1].

However, while on-chain indicators and recent developments point to a bullish scenario, investors are advised to exercise caution. The cryptocurrency market remains volatile, and future movements will be influenced by factors such as regulatory developments, macroeconomic conditions, and the performance of Bitcoin [1]. Key resistance and support levels will also play a critical role in determining the path of least resistance for XRP. Bulls will likely aim to push the price toward $3.66, while bears may defend this level with strong selling pressure [1]. A breakdown could see the price test $3.00 as support, with further potential support at $2.96 and the 50-day simple moving average at $2.76 [1].

Source:

[1] https://coinedition.com/xrp-price-prediction-mvrv-golden-cross-rally/

[2] https://www.benzinga.com/trading-ideas/movers/25/07/46518216/trump-media-stock-rises-as-bitcoin-purchases-cross-2-billion

[3] https://en.coinotag.com/xrp-reclaims-3-after-falling-wedge-breakout-eyes-potential-move-toward-4-80-target/