XRP may be on the brink of another major breakout as a rare bullish indicator has resurfaced — one that previously preceded a sixfold price explosion.
According to analyst Ali Martinez, the reappearance of a Golden Cross in the Market Value to Realized Value (MVRV) ratio could mark the start of a new rally.
The last time this signal flashed, XRP rocketed over 630%. Now, with the MVRV ratio climbing back above its 200-day moving average, bullish sentiment is rising once again. XRP has already shown signs of momentum, recently topping $3.50 before settling near $3.43.
Traders are watching closely. Some believe this could ignite a multi-month rally, with community members eyeing price targets as high as $22 — a 500% move from current levels.
Adding to the optimism, crypto market watcher Shawn Mark has highlighted a breakout from a long-term symmetrical triangle, a pattern similar to the one that set off XRP’s legendary 2017 rally. Back then, the token soared from fractions of a cent to nearly $3.50. If the current pattern plays out in a similar fashion, he predicts XRP could target a peak just above $20.
The excitement around XRP isn’t just technical. Growing institutional interest and improving market sentiment are also fueling speculation that this cycle could deliver XRP’s long-awaited all-time high.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/xrp-breakout-historic-signal-sparks-fresh-rally-hopes/