Summary
- Chart analyst Ali Martinez stated that a death cross occurred on XRP, predicting a steep correction.
- The analyst pointed out the potential for further decline based on signals observed on the MVRV chart.
- On the morning of the 4th, XRP was reported trading at ₩4,137 on Upbit, up 6.76% from the previous day.
There is an analysis suggesting that XRP may be entering a correction phase.
On the 4th (Korea Standard Time), cryptocurrency chart analyst Ali Martinez shared on X (formerly Twitter), "A death cross has appeared for XRP on the MVRV chart," adding, "It may face a steeper correction."
MVRV (Market Value to Realised Value) is an indicator that divides a crypto asset’s market capitalization by its realized capitalization, and shows whether the current price is overvalued or undervalued.
Meanwhile, as of 8:30 a.m. on this day, XRP was trading at ₩4,137 on Upbit, a domestic cryptocurrency exchange, up 6.76% from the previous day.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
