TL;DR
- Ripple’s cross-border token has joined the altcoin pack by marking substantial gains over the past few days, now trading close to its previous all-time high.
- One indicator suggests that the asset could experience another massive double or even triple-digit rally, given its historical performance.
MVRV Golden Cross
It was just a week or so ago when XRP struggled below $2.8 after losing the critical $3 support. The asset had plunged by over 20% since its new all-time high marked in mid-July and analysts were quick to warn about another crash that can take it to and below $2.4.
However, this isn’t what transpired. Perhaps driven by the overall market resurgance and the much-anticipated conclusion of Ripple’s legal battle against the US SEC, XRP went on a tear in the past few days and soared past $3.3 earlier today, thus proving the doubters wrong .
XRP is now 11% up weekly, and has added nearly 40% of value in the past month, standing just 9% away from its $3.65 all-time high. What’s perhaps even more bullish is the formation of an MVRV golden cross, as pointed out by Ali Martinez.
When this happened in late 2024, Ripple’s token went on a tear and skyrocketed from $0.5 to $3.4 within months, gaining roughly 600%. Then, the signal appeared once again in July and XRP broke out of its consolidation range at around $2.2 and jumped to the aforementioned ATH of $3.65 (approximately 60% surge).
If history repeats now and XRP mimics the triple-digit pump, it could go well beyond $20 and up to $25. Even if the less bullish scenario materializes, it would still put the asset’s price at $5, which would mean a new all-time high.
Other Predictions
It’s worth repeating again and again, history is no indicator of future price performances. However, it does tend to rhyme occasionally.
Still, the XRP Army is among the most vocal parts of the cryptocurrency community and often posts big price predictions . One of the loudest, John Squire, recently envisioned another 6x price surge for XRP, which would make it a trillion-dollar asset. Although that does sound tempting, it’s a bit unrealistic given the current situation where XRP’s market cap stands around $200 billion.
Nevertheless, the cryptocurrency market is highly unpredictible, which has been proven over and over again, and XRP has indeed posted some massive gains in the past, so I wouldn’t count it out completely.
