XRP, the third largest cryptocurrency by market capitalization, has recently flashed a rare golden cross on the MVRV index, which could indicate impending price growth.
What is MVRV and the Significance of the Golden Cross
MVRV (Market Value to Realized Value) is a metric that compares market capitalization and realized value. The appearance of a golden cross on this indicator is a bullish signal. Crypto analyst Ali Martinez notes that the last two times the MVRV ratio flashed a golden cross, XRP rose by 630% and 54%.
XRP's Surge Following Lawsuit Resolutions
XRP saw a significant rally on Thursday after the SEC and Ripple Labs ended their appeals in the high-profile XRP lawsuit. This positively impacted the prices, which continued to rise on Friday, reaching $3.38.
Predictions and Analysis of Future XRP Prices
If historical data holds true, XRP could again approach growth levels of up to 600%, implying a price around $24. Even a 54% increase could lead to a price of $5.11. However, current selling pressure may affect maintaining the price above the $3 mark.
The appearance of the golden cross on the MVRV index for XRP may herald significant price growth in the future, especially after the resolution of lawsuits. Investors and traders are closely monitoring the developments.
