The digital asset XRP surged past the significant $3 price level, propelled by a technical pattern breakout and key on-chain metrics signaling robust bullish momentum.
This upward move follows the resolution of a falling wedge pattern on its price chart, a formation often associated with potential trend reversals to the upside. Simultaneously, an MVRV (Market Value to Realized Value) golden cross emerged, indicating strong upward price momentum and bolstering market confidence in the asset’s continued appreciation.
Market data reinforced the rally’s strength, showcasing a total market capitalization exceeding $185 billion and a substantial 24-hour trading volume surpassing $12.3 billion. These figures point to active participation and conviction behind the price surge.
Analysts now identify the next significant technical resistance level near $4.80. Reaching this threshold is viewed as plausible but remains contingent on the asset maintaining its current momentum and sustaining support above the $3 psychological barrier.
The convergence of this technical pattern breakout, the positive MVRV golden cross signal, and supportive fundamental market data presents a notably optimistic outlook for XRP’s near-term trajectory.