 
 
Ripple-affiliated XRP could see further upside volatility, according to an on-chain metric that has just flashed a super rare bullish signal. According to closely followed crypto analyst Ali Martinez, XRP’s MVRV ratio flipping bullish suggests the crypto’s big 630% upside burst could be on the horizon.
Bullish MVRV Ratio Puts XRP Price Target At $20
Often dismissed for lacking clear use cases, Ripple’s XRP has quietly climbed to become the third most valuable cryptocurrency, now with a $189.6 billion market cap. XRP broke out from its long-term range in a strong rally on Thursday, briefly hitting $3.30 earlier today. In the past week alone, XRP gained over 31%, outperforming both Bitcoin (6.3%) and Ethereum (22.8%).
Cryptocurrency strategist Ali Charts told his 140,900 followers on X today that the MVRV ratio (Market Value to Realized Value) has flashed a golden cross, a signal that previously preceded a seismic upsurge for XRP.
“The last time the MVRV ratio flashed a golden cross, XRP soared 630%. That signal just appeared again,” Ali said in his post on X.
At press time, XRP is trading hands for $3.24. This rare setup triggers speculation that the cross-border payments token could be on the brink of a parabolic surge. A 630% jump from XRP’s current levels would imply a sky-high target of about $20 should history repeat itself.
 
Uptick In Institutional Support Could Catalyze XRP Rally
XRP’s bullish outlook comes amid growing institutional confidence in the once controversial asset. On Monday, the NYSE approved the listing of the ProShares Ultra XRP ETF, which aims to deliver twice the daily performance of the underlying crypto. While less impactful on price than a spot exchange-traded fund, its arrival on a U.S. exchange reflects rising institutional interest.
The US Securities and Exchange Commission is still assessing whether to greenlight spot market XRP funds.
Meanwhile, Canada is a step ahead. As ZyCrypto reported, 3iQ’s spot XRP ETFs (XRPQ and XRPQ.U) started trading on the Toronto Stock Exchange on June 18, quickly raking in more than $50 million in assets under management, the asset manager revealed.
Ripple also recently appointed America’s oldest bank, BNY Mellon, as the primary custodian of its Ripple USD (RLUSD) stablecoin. Demand for XRP could skyrocket if the XRP Ledger can steal stablecoin market share from Ethereum. Enthusiasts view the Ripple-Mellon deal as a signal of growing institutional support.
Source: https://zycrypto.com/xrp-price-highly-rare-bullish-signal-eyes-630-moonshot-past-20-top-trader-says/