Bitcoin and XRP Surge Toward Strongest Weekly Close Since 2024
Bitcoin and XRP are experiencing their strongest weekly close since 2024, driven by a historic short squeeze and supportive policy signals from Washington. The MVRV ratio, which compares Bitcoin's current market value to its realized value, has shown a sharp vertical rise, hinting at a possible cycle bottom.
CryptoQuant analyst Crypto Dan noted that this signal is similar to those seen at the end of previous downcycles, suggesting a possible shift from decline to ascent. The rebound in Bitcoin has added approximately $280 billion to market capitalization in under five days.
XRP outperformed even more dramatically, with its price changing hands near $1.40, up about 31% on the week and more than 18% for the day. A historic short squeeze drove most of XRP's move, forcing sellers to buy back coins and accelerating the rally.
Technical analysts are watching key levels closely, with Trader Ted pointing to Bitcoin's powerful weekly candle, which has smashed through multiple resistance zones. The next major test lies between $78,000 and $80,000, and a successful reclaim could signal the end of the bearish structure that has dominated since late 2025.