XRP is nearing a critical technical pattern named “golden cross” in its Bitcoin (BTC) pairing—a development widely regarded as a bullish signal in financial markets.
This pattern emerges when a short-term moving average crosses above a long-term moving average, suggesting the possibility of sustained upward momentum. For XRP traders, this is a potential precursor to further price appreciation against Bitcoin.
Moving Averages Signal Imminent Golden Cross
On the XRP versus BTC chart, the 50-day simple moving average (SMA), a measure of short-term price trends, is on an upward trajectory and is on the verge of crossing above the 200-day SMA, which reflects longer-term price movements. This convergence of the two averages indicates that a golden cross could occur in the coming days.
Such a crossover is often interpreted as a strong sign of market strength and may trigger more gains for XRP, especially if the overall sentiment in the cryptocurrency market remains positive and supportive.
The timing of this anticipated golden cross aligns with a broader rally among altcoins, including XRP. Market enthusiasm for alternative cryptocurrencies has been growing as traders seek opportunities beyond Bitcoin’s dominance.
Blockchain analytics firm Santiment highlighted this trend, noting, “While Bitcoin’s historic rally has captured much of the market’s attention, altcoins like XRP are quickly expanding their market caps.
If Bitcoin holds its $95,000 support level, the profits accumulated in November could flow into altcoins, sustaining their upward trajectory.” XRP’s growing market cap exemplifies this shift, signaling rising interest from investors seeking alternatives to Bitcoin.
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XRP’s Increasing Momentum Against Bitcoin
XRP is increasingly outperforming Bitcoin, recording impressive gains on both weekly and monthly timeframes. Over the past week alone, XRP has surged by a remarkable 68.65%, significantly outpacing Bitcoin’s 10.86% increase in the same period.
This bullish trend has been evident since November 12, with XRP reaching a high of $0.00001522 in today’s trading session—levels not witnessed since early December 2023. This sharp rise highlights XRP’s resilience and its ability to capture market interest during key moments of opportunity.
Adding to this momentum, several altcoins, including XRP, have seen dramatic price increases in the last 24 hours. This surge followed SEC Chair Gary Gensler’s announcement regarding his intent to step down.
XRP, which has been at the center of the lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) over its security status, rallied by as much as 30% on Friday in response to the news.
Market participants have speculated that Gensler’s departure could mark a turning point in regulatory clarity, potentially benefiting Ripple and XRP’s future.
At the time of writing, XRP is up 29.83% in the past 24 hours, trading at $1.46. Meanwhile, Bitcoin trades at $99,107, exhibiting 1.34% appreciation in 24 hours, after briefly touching an all-time high of $99,543. The combination of technical developments, market conditions, and regulatory news suggests that XRP is well-positioned to continue its strong performance in the weeks ahead.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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