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<a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/bitcoin-rally-meets-spot-bitcoin-etf-outflows-and-bullish-news/” title=”Bitcoin Rally Meets Spot Bitcoin ETF Outflows and Bullish News”>bitcoin-today-jumps-12-in-two-days-but-overbought-signals-flash-warning/” title=”Bitcoin Today Jumps 12% in Two Days, but Overbought Signals Flash Warning”>Bitcoin and XRP are surging toward their strongest weekly closes since 2024, powered by a historic short squeeze and a wave of supportive policy signals from Washington.
On-chain data now adds another layer, hinting this rally could mark more than a temporary bounce.
Bitcoin and XRP Surge as On-Chain Data Flashes a Rare Bottom Signal
The MVRV ratio compares Bitcoin’s current market value to its realized value, the average price at which coins last moved. Sharp vertical rises in this metric have historically preceded major cycle bottoms.
Bitcoin trades above $79,000, up roughly 25% over the past seven days and more than 13% in the last 24 hours Analysts called this the biggest weekly gain since February 2024, adding approximately $280 billion to market capitalization in under five days
CryptoQuant analyst Crypto Dan flagged the MVRV signal as notable. He described the rebound as the first powerful signal in this bear cycle, echoing patterns seen at the end of previous downcycles.
“Bitcoin’s recent rebound is a signal that has emerged for the first time in this Bear cycle. The MVRV indicator, which measures Bitcoin’s present valuation, is showing a vertical rise. This signal is the very movement that appeared as the bottom range came to an end in every past downcycle. suggesting that the possibility of the market turning from decline to ascent is growing,” Crypto Dan said. Bitcoin (BTC).
XRP outperformed even more dramatically. The token changed hands near $1.40, up about 31% on the week and more than 18% for the day, after hovering near or below $1 just days earlier. Analysts called this XRP’s strongest week since November 2024.
Strong $XRP comeback breaching the YEARLY downtrend resistance and triggering the BULLISH reversal pic.twitter.com/sxxaqwlDdC
— Rand Group (@randgroup) August 20, 2026
A historic short squeeze drove most of the move. Billions in leveraged bearish positions were liquidated as prices broke higher, forcing sellers to buy back coins and accelerating the rally.
The US Treasury doubled long-term bond buybacks, while President Trump voiced support for the CLARITY Act at a White House meeting.
What Comes Next for Bitcoin and XRP?
Technical analysts are watching key levels closely. Trader Ted pointed 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.
$BTC weekly candle is just insane.
Breaking above every resistance level like it's nothing.
Now, Bitcoin is moving towards its $78,000-$80,000 resistance zone.
A reclaim of this will confirm the end of this bear market. pic.twitter.com/lxvivlLMkb
— Ted (@TedPillows) August 21, 2026
For XRP, analyst ChartNerdTA emphasizes the weekly 20 and 50 EMAs, which are currently trading between roughly $1.20 and $1.50.
Source: finance.yahoo.com