- XRP’s MVRV ratio golden cross reappears, previously leading to rallies of 630% and 54%, signaling conditions similar to earlier surges.
- Whales purchased 50 million XRP in 48 hours, alongside a 208% futures volume jump and $5.9 billion open interest.
- XRP’s price forms a higher low near $3.00, with RSI and MACD turning bullish, targeting resistance between $3.35 and $3.70.
The MVRV ratio for XRP has once again formed a golden cross, a pattern that in past instances preceded major price rallies.
Historical Pattern Signals Possible Upside
Market analyst Ali reported that XRP’s MVRV ratio short-term trend has crossed above its 200-day moving average, forming the golden cross pattern. The MVRV ratio measures the relationship between XRP’s market value and realized value and is often used to assess investor profitability.
Historical data shows that the last two golden cross events in this metric were followed by substantial gains. The first occurrence preceded a 630% rally, while the second led to a 54% rise. The current reading has crossed above the 3.3 mark, a level associated with prior breakout phases.
This development comes during a phase of growing buying interest and could attract further capital into the market if price momentum continues to build.
Whale Purchases Align With Market Activity Spike
In a separate update, Ali revealed that whales accumulated 50 million XRP over the past 48 hours. This buying wave coincided with a sharp surge in trading volumes across derivatives markets.
XRP futures volume jumped 208% in the past 24 hours to reach $12.4 billion, surpassing Solana’s $9.6 billion. Open interest rose by 15% to $5.9 billion, suggesting an influx of capital into active positions.
Funding rates are positive, meaning shorts are paying longs. This indicates a bias in the market that heavily favors bullish positions, a state of affairs that may lead to a rapid increase in growth should the price provide support.
Technical Chart Points to Recovery Attempt
XRP’s daily chart indicates an ongoing recovery after a pullback from highs above $3.50. Buyers held the $3.00 level, preventing a deeper correction and forming a higher low structure.
Provided that price clears and sustains the resistance range at around $3.3535-$3.4041, some experts predict that a rebound towards $3.50 is possible, followed by an upside extension towards $3.70.
Momentum indicators also support this view. The RSI is at 58.51, climbing from neutral territory, while the MACD has turned bullish with a crossover near the zero level. The histogram has shifted to green, signaling strengthening buying pressure.
