XRP, Dogecoin Trade at Long-Term MVRV Discounts as Bitcoin Holds $82.5K Neckline
- —XRP 365-day MVRV at -11.75%, Dogecoin at -19.26% as of September 23
- —BTC, ETH and LINK MVRV readings moved slightly above zero
- —Bitcoin holds $82,500 neckline of a double bottom targeting $100,000
- —Spot BTC ETF inflows hit $999M on Sept 21 and $714.7M on Sept 22
Why it matters: Negative MVRV readings cut the pool of holders in profit, easing sell pressure, but the setup hinges on Bitcoin holding $82,500.
Source: Brave New Coin