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The XRP price movement might be preparing for a significant upswing as a crucial bullish signal has once again emerged on the charts. According to crypto analyst Ali Martinez, this historical indicator had previously foreshadowed a remarkable 630% surge in XRP’s price back in 2024. Now, with this identical signal activating again, the analyst suggests the likelihood of another robust move upward.
XRP Price Displays Historically Bullish Signal
A potentially explosive historical signal has just reemerged on the XRP price chart, elevating hopes for a possible breakout ahead. In his latest XRP analysis report on X social media, Martinez reveals that the cryptocurrency’s Market Value to Realized Value (MVRV) ratio has shown a Golden Cross—a pattern typically associated with strong bullish momentum.
Martinez emphasized that the last time this MVRV ratio crossover was observed, in 2024, XRP soared over 630%, marking one of its most significant price movements in recent times. Now, the same bullish pattern has been activated once more, sparking speculation of a potential historical reprise.
The analyst’s chart depicts the MVRV ratio, in orange, surging above its 200-day Moving Average (MA), in red, with XRP’s price already starting to react favorably. At the time of this writing, XRP is trading at $3.43, exhibiting healthy momentum in comparison to prior months, during which its price was trapped in a consolidation zone above $2. Although the cryptocurrency surged considerably above $3.5 earlier this week, it has since retracted by roughly 3.8% to its present price, according to CoinMarketCap.
If history is any indication, the resurgence of the MVRV ratio Golden Cross could pave the way for further upward movement, potentially setting XRP up for a new multi-month rally. Members of the cryptocurrency community who have observed this historically bullish signal are already predicting a potential rally to $22, representing an astonishing 541% increase from XRP’s current levels.
Analyst Establishes XRP Price Target Above $20
The XRP price may witness a historical rally to new all-time highs before the conclusion of this cycle, as an X cryptocurrency market analyst, Shawn Mark, refers to previous chart patterns that indicate a potential surge above $20 is forthcoming. According to the analysis, XRP has just exited a multi-year consolidation period within a Symmetrical Triangle pattern, akin to the one it constructed prior to its explosive rise in the 2017 bull cycle.
Previously, XRP surged from below $0.01 to nearly $3.50 in a parabolic movement, illustrating a more than 60x increase. Now, current chart formations imply that the latest triangle breakout closely resembles the same historical pattern. Should this fractal materialize again with similar bullish momentum, XRP’s projected target might settle in the $20 range, with a specific peak expectation at $20.25.
Featured image from Getty Images, chart from Tradingview.com
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