Crypto News Today: XRP, Dogecoin Signal Long-Term MVRV Discounts as Bitcoin Holds $82.5K Neckline

On-chain analytics firm Santiment reported that XRP’s 365-day Market Value to Realized Value (MVRV) stood at approximately -11.75%, while Dogecoin’s reading was around -19.26% on September 23. By comparison, Bitcoin, Ethereum, and Chainlink had moved slightly above the 0% threshold.

The divergence highlights a different profitability profile across major cryptocurrencies. At the same time, BTC is holding above the $82,500 neckline of a potential daily double-bottom pattern identified by analyst Ali Charts, with $100,000 cited as the measured target if the setup develops as outlined.

The 365-day MVRV metric compares an asset’s current market value with the realized value associated with coins that last moved during the measured period. A negative reading indicates that the relevant cohort is, on average, holding unrealized losses.

Santiment data shows XRP and DOGE in long-term MVRV losses at -11.75% and -19.26%, while BTC, ETH, and LINK holders remain in modest profit. Source: Santiment Intelligence via X

Santiment’s latest data puts XRP at -11.75% and Dogecoin at -19.26%, meaning the average participant represented by the 365-day cohort remains below its realized cost basis. The readings contrast with Bitcoin, Ethereum and Chainlink, whose corresponding measures have moved marginally above zero following the broader market recovery.

Santiment described the gap as a significant split among major cryptocurrencies. The analytics firm noted that lower MVRV readings can reduce the pool of holders sitting on unrealized profits, potentially limiting selling pressure from investors looking to lock in gains.

However, MVRV does not establish that an asset is undervalued or guarantee a future price recovery. The metric describes the profitability position of a particular holder cohort and needs to be considered alongside price action, liquidity, demand, and broader market conditions.

Bitcoin has recently traded between the low $80,000 and the upper $80,000 after recovering from earlier weakness. The cryptocurrency climbed above $87,000 before pulling back and was trading around the mid-$80,000 range as the latest market data emerged.

The daily Bitcoin chart shows a potential double-bottom pattern, with $82,500 as the neckline and a measured target near $100,000 if confirmed. Source: Ali Martinez via X

Against this backdrop, Ali Charts identified a potential Bitcoin double-bottom pattern on the daily chart. The analysis places the neckline at $82,500, describing that area as support and citing $100,000 as the pattern’s target.

“Bitcoin double bottom suggests the $82,500 neckline will hold as support. The target remains $100,000,” Ali Charts wrote.

The $82,500 level therefore becomes an important technical reference for the setup. A sustained hold would keep the proposed formation intact, while a decisive move below the area would require the pattern to be reassessed.

Bitcoin’s technical structure has developed alongside renewed institutional flows. U.S. spot Bitcoin ETFs recorded substantial inflows during the latest rally, with reports showing $999 million on September 21 and $714.7 million on September 22.

Bitcoin (BTC) price chart. Source: Brave New Coin

Corporate accumulation has also continued. Strategy purchased 950 Bitcoin for approximately $75.7 million in the week ended September 20, lifting its holdings to 846,000 BTC.

Strive has likewise expanded its Bitcoin treasury. The company purchased 1,355 Bitcoin for about $107.7 million during the week ended September 18, taking its holdings to 26,355 BTC, according to its reported filings.

These flows provide additional context for Bitcoin’s recent recovery, although ETF demand and corporate purchases do not remove the market’s exposure to macroeconomic conditions, profit-taking, or changes in investor positioning.

The latest data presents three different signals across the market. XRP and Dogecoin remain below zero on the 365-day MVRV measure, indicating that their measured holder cohorts are still carrying unrealized losses despite the broader recovery.

XRP price chart. Source: Brave New Coin

Bitcoin, meanwhile, has moved into a technically important consolidation zone above the $82,500 neckline identified by Ali Charts. Its recent advance toward $87,000 has been accompanied by renewed ETF inflows and continued corporate accumulation.

Dogecoin (DOGE) price chart. Source: Brave New Coin

For XRP and DOGE, the negative MVRV readings indicate that many longer-term participants have not yet returned to profit. For BTC, the focus is instead on whether price can maintain the support structure around $82,500 while demand remains active.

Together, the data show that the recent crypto market rebound has not affected all major assets equally. XRP and Dogecoin continue to display negative long-term profitability metrics, while Bitcoin’s price structure is being closely watched around a key technical support level.