XRP Finally Poised For Light at End Of Tunnel As On-Chain Activity Goes Through the Roof

Despite the bearish momentum being experienced in the crypto market, XRP has remained steadfast above the psychological price of $2, thanks to strong on-chain metrics. As a result, there may be light at the end of XRP’s tunnel as the fourth-largest cryptocurrency eyes a macro trend shift. Renowned market analyst Ali Martinez pointed out , “The XRP MVRV Ratio just dipped below its 200-day moving average. This crossover may be signaling a macro trend shift in price action.” Source: Ali Martinez Therefore, this macro trend shift means that XRP’s long-term picture remains bullish. These sentiments were recently echoed by Edo Farina, the founder of Alpha Lions Academy, who stated , “Watching XRP at $2.11 feels like a walk in the park. I remember when dropping below $0.50 was considered a “crash.’” According to CoinGecko data, XRP continues to hover around the $2.05 zone. Therefore, time will tell how XRP plays out in the short and long term, with a bright picture already surfacing. XRP’s Transfer Volume Goes Through the Roof According to XRP Scan, the amount of XRP being transferred has skyrocketed after reaching levels not seen in a couple of weeks. Notably, the number of daily XRP transfers recently hit a notable 647 million. Therefore, this high activity in the XRP ecosystem could signal heightened speculation about a trend shift. Meanwhile, Digital asset bull and social influencer John Squire recently pointed out that XRP had all it takes to trigger early retirements , thanks to the bullish outlook being portrayed. With the odds of a spot XRP exchange-traded fund (ETF) approval jumping to 85% , this development could trigger increased institutional demand, which could be instrumental in triggering a new all-time high (ATH).