A strong technical signal has just appeared on the XRP price chart, raising hopes for a massive price increase in the near future. Blockchain analyst Ali Martinez stated that this indicator previously accurately predicted a 630% increase of XRP in 2024 – and it has just been triggered again!
📊 'Golden Cross' Signal on MVRV Ratio: Is History About to Repeat Itself?
In a recent analysis posted on social media X, Ali Martinez pointed out that the Market Value to Realized Value (MVRV) ratio – an indicator measuring market valuation against the actual value of the asset – has crossed above the 200-day moving average (MA 200). This is the signal known as 'Golden Cross', which typically indicates the beginning of a strong bullish cycle.
Remember that this signal previously appeared before XRP soared over 630%, one of the largest price increases in the coin's history.
📈 Bullish Momentum Strengthens – Is XRP Heading Towards $22?
Currently, XRP is trading around $3.43, after surpassing the $3.5 mark earlier this week. Although there has been a slight adjustment of 3.8%, analysts believe this is just a brief pause before continuing to accelerate. If history repeats itself, XRP could rise over 541% to $22, according to insights from the cryptocurrency investment community.
Market expert Shawn Mark also shared that the XRP price chart is showing a breakout from a Symmetrical Triangle pattern – a pattern that appeared before XRP entered the rapid increase in 2017.
🔍 What Should Investors Do?
Monitor MVRV and MA200: These are reliable technical indicators for assessing XRP's bullish cycle.
Strict risk management: Although the historical signals are promising, the market still carries high volatility.
Consider the resistance level near $4 and support around $3 to determine effective entry/exit points.
📢 Conclusion
XRP is at a crucial moment that could shape the entire trend for the remainder of the market cycle. The return of the Golden Cross indicator on MVRV is a wake-up call for both investors and large funds. If the pattern continues to hold as it has in the past, XRP may be preparing for a historic breakout.
Be ready – as the 'big game' may have already begun! 🌕💥
📌 Closely monitor the technical signals and news from the market to not miss any opportunities in this growth cycle!