XRP price prediction: This indicator hints at 640% rally
With XRP flying high as investors react to the resolution of the Securities and Exchange Commission (SEC) case, on-chain data suggests that more upside for the asset might be on the horizon. This projected rally is rooted in the fact that XRP’s Market Value to Realized Value (MVRV) ratio has formed a golden cross, a technical pattern that occurs when the short-term MVRV ratio moves above its long-term 200-day moving average (MA). XRP MVRV chart. Source: Santiment This rare event has occurred only twice in recent years, and both times it preceded major rallies, as observed by cryptocurrency trading analyst Ali Martinez in an X post on August 8. According to the expert, the last two times this pattern appeared, XRP soared 630% and 54%, respectively. Notably, the MVRV ratio measures how overvalued or undervalued an asset is compared to its “fair value” based on historical acquisition prices. If XRP were to repeat its best historical performance of a 640% ...