XRP MVRV Ratio Flashes Death Cross. Here’s the Impact On Price

Key Points

1. XRP's Market Value to Realized Value (MVRV) ratio has shown a death cross, suggesting a possible significant price decline.

2. XRP's price has dropped 17% from its mid-July peak, now trading around $2.99, reflecting increased selling pressure.

3. On-chain data shows a 23% drop in daily spot trading volume and a 34% decline in derivatives volume, with open interest slightly increasing, indicating growing uncertainty among traders.

4. Technical indicators like the 10-day and 20-day EMAs show indecision, while the RSI is neutral and the Stochastic RSI is near oversold levels.

5. Despite short-term bearish signals, the long-term market structure remains intact with upward-sloping 50-day and 200-day EMAs, suggesting potential for future recovery.