A closely followed crypto analyst says that a rare bullish signal is suddenly flashing again for one top-10 altcoin.
In a new thread, crypto trader Ali Martinez tells his 141,000 followers on the social media platform X that XRP may have an explosive move as the payments altcoin’s Market Value to Realized Value (MVRV) metric is forming a golden cross.
The last time the signal flashed bullish was in November 2024, when XRP exploded by triple percentage points.
The MVRV metric gauges the market’s sentiment and valuation of a crypto asset. A golden cross occurs when the MVRV metric crosses above its 200-day moving average, signaling long-term bullish momentum.
“The last time the MVRV ratio flashed a golden cross, XRP soared 630%. That signal just appeared again.”
A 630% increase from XRP’s current value would put the token at more than $20.
The analyst previously said XRP is primed to print new all-time highs, setting his initial target to the upside at $4.80.
“XRP is screaming all-time highs. Are you seeing this? XRP is testing the top of the channel at $3. A weekly close above the $3 resistance could trigger a breakout to $4.80.”
The analyst also says that crypto whales are accumulating massive amounts of the payment token.
“Whales have bought 2.20 billion XRP in the last two weeks!”
XRP is trading for $3.25 at time of writing, up 8.8% in the last 24 hours.
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