XRP News Today: XRP Surpasses $3 for First Time Since 2018 Amid Bullish Momentum and Bearish Signals

XRP, the native token of Ripple, has recently surpassed the $3 level for the first time since 2018, surging nearly 5% on Monday to reach $3.03. This outperformed Bitcoin and Ethereum, which recorded gains of approximately 0.50% and 2.50%, respectively. The move has positioned XRP as one of the top-performing cryptocurrencies for the day [1].

Despite the bullish price action, crypto analyst Ali Martinez has issued a cautionary signal based on technical indicators. He highlighted a bearish “death cross” in the MVRV (Market Value to Realized Value) ratio—a metric that compares the market value of a cryptocurrency to its realized value. Martinez argues this could signal a potential correction, suggesting that the current rally may not be sustainable [1]. On-chain data further supports this, showing that while $2.80 could offer temporary support in case of a pullback, the stronger support level lies around $2.48. Should bearish pressure increase, the price could face further downward movement [1].

The analyst’s concerns are compounded by mainstream media coverage, including a recent article in USA Today that labeled XRP as “the smartest cryptocurrency to buy with $500 right now.” Martinez described this as a classic contrarian indicator, noting that heightened bullish sentiment from traditional media often precedes a market peak [1]. This viewpoint aligns with the theory that mainstream attention tends to peak just before a correction sets in.

In contrast, another analyst, Egrag, has maintained a long-term bullish stance on XRP. Based on the token’s 6-month chart, he forecasts a significant price move ahead, particularly if XRP can hold key levels and retest higher territory. Egrag cited two potential price targets—$4.89 and $48.90—depending on whether a linear or logarithmic scale is used. Taking an average, he suggests $27 as a possible price target, indicating a scenario where XRP could still experience a strong rally [1].

XRP’s recent performance has also been influenced by broader market dynamics. The token has benefited from a shift in investor attention toward altcoins, as Bitcoin and Ethereum attract capital through spot ETFs. However, the altcoin market remains highly volatile, and institutional activity can lead to rapid reversals. While short-term bullish momentum is evident, technical indicators like the RSI and MACD suggest weakening strength, prompting analysts to urge caution [1].

For now, the focus remains on whether XRP can maintain its position above $3. A successful retest and consolidation above this level could signal a broader bullish trend. Conversely, a failure to hold key support levels could trigger a more pronounced correction. Traders are advised to closely monitor both on-chain metrics and broader market conditions to navigate the evolving landscape effectively [1].

[1] Coin, https://coinedition.com/xrp-price-breaks-3-dollars-death-cross-warning/