The XRP market is experiencing significant profit-taking amid concerns over overvaluation, as indicated by the Market Value to Realized Value (MVRV) ratio, which surged to 217%. Last week, long-term holders realized over $1.5 billion in profits when XRP reached a three-year high of $1.60 before retracing to $1.30. Ripple Labs announced plans to invest in the newly rebranded Bitwise Physical XRP ETP, contributing to a 10% surge in XRP prices. This exchange-traded product allows European investors to gain exposure to XRP, and its launch is expected to capitalize on heightened global interest in crypto investments, driven by a clearer U.S. regulatory environment. The recent price dynamics reflect broader investor behavior and market conditions, although the high MVRV suggests a possible correction may be on the horizon.

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