On this criteria, XRP surpassing Bitcoin is an uncommon occurrence


The price of XRP plummeted from an all-time high of $3.31 to under $1, shocking investors and dealers. This bounce, however, came as a welcome relief to these investors, as the alt's price rose about 40% in a week. XRP, which was one of the top weekly gainers at the time of writing, experienced surprisingly lesser price gains than Bitcoin, Ethereum, and even BNB (second only to Cardano).

While XRP traders are ecstatic that the alt has recaptured the $1 mark for the first time in ten weeks, it will be interesting to see how this price rally plays out for the alt, which has plunged by more than 80% in the last cycle.

Finally, XRP has a significant market value.

When XRP was hovering around $0.5, making headlines not for its price advances or metric high, but for the SEC vs Ripple litigation, the idea of the alt recovering $1 levels seemed like a pipe dream. As XRP approaches the $1 level, concerns about the rally's sustainability have resurfaced.

According to Santiment, XRP's price rebound was backed by a strong rise in MVRV (60day), which revealed an anomaly (high values) at the time of writing. This indicated that the current rally was in reality a bull run, and that long-term investors were now receiving the benefits. At the time of writing, the alt's MVRV value was equivalent to the May 15 levels, which corresponded to XRP's price peak at the time.

For XRP holders, the alt's return to the overbought zone for the first time since its April price ATH was nothing short of a miracle. On the downside, because XRP is still down 69.98 percent from its all-time high, an RSI in the overbought zone could indicate that the price will drop once selling pressure builds. However, if other indicators remain stable, XRP may be able to maintain its gains. Looking at the development side of things gave XRP a lot of confidence.

The top cryptos' development activity rates indicated ongoing supremacy, according to a Santiment tweet. However, in an unprecedented pattern, the XRP Network was closing in on a higher daily github development pace than Bitcoin, which had never happened before.

While XRP's social sentiment did not show any noteworthy upticks, its active addresses peaked on August 11 at levels last seen on May 15. Furthermore, at the time of writing, XRP development activity had reached new all-time highs. Along with strong trade volumes and higher prices, daily active addresses fared well.

While everything appeared to be going well for the sixth-ranked alt, keep an eye out for warning indications such as a drop in active addresses or low trading candles on high prices. With XRP's over 10% price drop on August 12, it'll be especially vital to keep an eye on key levels like the $0.8 mark.

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