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🪙 XRP Nears Potential Market Bottom as On-Chain Signals Turn Bullish Analysts continue studying blockchain data to identify potential turning points in cryptocurrency markets. According to insights shared by Tokocrypto, several on-chain indicators now suggest that XRP may currently trade below its fair value. One metric drawing attention is the MVRV Z-Score, which compares market value with realized value. This indicator helps analysts determine whether an asset trades at a premium or discount relative to historical price behavior. When the metric drops to lower levels, it often signals that investors have already sold a large portion of their holdings at a loss. 🔸 Technical Patterns Indicate Possible Breakout Beyond on-chain data, chart patterns also show potential signs of a reversal. Technical analysts identified a descending wedge formation on the XRP price chart. This pattern forms when price movements gradually compress within downward-sloping trendlines. In many cases, descending wedges appear before bullish breakouts. If the pattern resolves upward, analysts expect XRP to challenge key resistance levels. The first major resistance appears near $1.39. A confirmed breakout above this level could push the price toward $1.43, representing roughly an 11 percent potential move from recent levels. 🔸 Market Stabilization Could Support Recovery At the same time, analysts continue watching downside support levels. If the price fails to maintain momentum, the next key support sits around $1.31. Institutional activity also appears relatively stable. Reports indicate zero net inflows or outflows from XRP exchange-traded funds, suggesting that large investors have paused aggressive selling. This stabilization often creates conditions for gradual price recovery. #XRP | #Ripple | $XRP {spot}(XRPUSDT)

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