Bitcoin and XRP Markets Surge to Strongest Weekly Close Since 2024

The Bitcoin and XRP markets are experiencing their strongest weekly close since 2024, driven by a historic short squeeze and supportive policy signals from Washington. On-chain data suggests this rally may be more than just a temporary bounce.

According to CryptoQuant analyst Crypto Dan, the MVRV ratio has seen a sharp vertical rise, which has historically preceded major cycle bottoms. This signal is reminiscent of patterns seen at the end of previous downcycles.

BTC has traded above $79,000, up roughly 25% over the past seven days and more than 13% in the last 24 hours. XRP has outperformed, rising near $1.40, a 31% gain on the week and an 18% increase for the day.

Technical analysts are watching key levels closely, with trader Ted pointing to Bitcoin's powerful weekly candle as it breaks through multiple resistance zones. A reclaim of this could signal the end of the bearish structure that has dominated since late 2025.