XRP MVRV Ratio Death Cross Trigger 17% Price Pullback
Big man analyst Ali Martinez don talk say XRP MVRV ratio don give sign of death cross. Dis death cross for MVRV ratio mean say big correction dey come for XRP price. Since e peak reach $3.65 around mid-July, XRP don drop 17% come near $2.99, wey align with the bearish crossover. On-chain data show say spot trading volume don reduce 23% to $4.83 billion, while derivatives volume drop 34% and open interest small small dey rise. Technical analysis talk say strong resistance dey for 10-day and 20-day EMAs around $3.02 and support dey at $2.95. If e break below $2.95, e fit go $2.75 or $2.50. Long term 50-day and 200-day EMAs still dey go up, show say momentum still dey ok. Traders suppose dey watch key levels and on-chain trends as bearish pressure dey increase.
Bearish
Di XRP MVRV ratio death cross na classic bearish signal be dat. Before, similar MVRV crossovers don show say sharp corrections go happen as unrealized losses dey make people panic sell. Right now on-chain metrics show 23% drop for spot volume and 34% fall for derivatives volume — e mean say traders confidence no too dey. Technical resistance wey dey for 10-day and 20-day EMAs dey add more selling pressure. If e break below $2.95, e fit make price sharp go down reach $2.75 or $2.50 short-term. But di 50-day and 200-day EMAs wey dey slope up still dey show say long-term bullish momentum dey. Traders fit expect more wahala volatility, but dem fit see price dips as chance to buy if long-term support hold. Overall, e remain bearish until XRP fit break daily close pass $3.20.