XRP Massive Pump Coming? Analyst Spots Historically Bullish Golden Cross

XRP is showing bullish signals unseen in years, potentially laying the groundwork for a significant price surge.

Analyst EGRAG CRYPTO (@egragcrypto) identified a historically important technical formation on the 2-week chart. The analyst uncovered this bullish golden cross, suggesting that an explosive upswing could be imminent.

EGRAG CRYPTO first highlighted this crucial 2-week chart pattern on November 5th, emphasizing the imminent crossover of the 21-period exponential moving average (EMA) above the 55-period moving average (MA).

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He pointed out that XRP, then trading at $0.64, could witness a substantial price explosion once this bullish cross materialized. He backed his claim by referencing past price movements triggered by similar occurrences. The analyst also noticed a bullish cross on the Average Sentiment Oscillator (ASO) around that time, adding credence to his prediction.

Historical Precedents

The first appearance of this golden cross on the XRP chart dates back to 2017, following a period of lackluster performance. As XRP gained momentum that year, the coveted crossover materialized, followed by a monumental price surge culminating in the all-time high of $3.84 in January 2018.

After correcting sharply from the 2017 bull run, XRP witnessed another golden cross in 2021, prompting another upswing that sent it soaring to $1.96 in April of that year. However, subsequent price declines led to the 21-EMA dipping below the 55-MA, signaling a bearish phase that continued until recently.

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A New Bull Run

The chart reveals a third golden cross has just taken shape. The analyst believes this new formation can trigger a similar price surge as the previous two, urging XRP investors to buckle up for a potential imminent eruption.

While he refrains from setting precise price targets or outlining a specific timeline for the anticipated uptrend, his analysis confidently asserts that XRP is ready for a significant rally.

XRP also demonstrates rising open interest (OI) in both the futures and perpetual markets despite a declining trading volume. Futures OI has jumped 14% in 24 hours to $9.3 million, while Perpetual OI has ticked up 0.42% to $509.2 million. This divergence between declining volume and increasing open interest further bolsters the case for an imminent upswing.

With a historically significant bullish signal flashing, investors need to watch closely and seize this opportunity.

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