 
 
Ripple’s XRP could be on the verge of kickstarting a long-term bull rally, as a key market indicator associated with a previous massive price rally resurfaces. The signal comes amid growing optimism among market players, following the altcoin’s notable surge in value over the last week.
In a post shared to X, prominent analyst Ali_Charts, presented a technical chart pattern displaying the MVRV ratio flashing a golden cross. This signal was previously observed right before XRP skyrocketed by 630%.
The presence of the bullish signal coincides with a growing bullish trend that resulted in a recent surge to a new all-time high for the Altcoin. According to data from Coingecko, XRP soared by 36%, crossing the $3.41 price mark for the first time since January 2018.
The move prolongs XRP’s recent uptrend, which began with the previous week’s milestone—a significant jump in market cap value, resulting in the dethroning of Tether (USDT), which was the third-largest cryptocurrency by market cap until XRP reclaimed the spot last week.
Notably, XRP’s market cap has surpassed the $200 billion mark, with gains from the past 24 hours exceeding 8%, further positioning the asset ahead of its close competitors.
 
At report time, XRP, which has now retreated from its recently attained ATH, is trading for $2.91. The altcoin has remarkably emerged as the highest gainer within the top 10 category, with gains from the past 7 days totalling 33.81% at this time.
XRP’s overall performance has sparked optimism among long-term holders, who are hopeful that the asset will sustain its current momentum.
The $4 price mark has become a new target for key players; however, market participants like Bill Morgan stated that an RLUSD and XRP pair listening could catalyze a surge to $4.
Source: https://zycrypto.com/key-xrp-bullish-indicator-flashes-a-630-surge-in-xrp-price-value-could-be-witnessed/