The post XRP’s next move – Will its upcoming golden cross trigger another hike? appeared on BitcoinEthereumNews.com.

Investors seemed to be buying XRP as its exchange outflows spiked Altcoin will face resistance at $0.55 if it heads north XRP has been consolidating somewhat over the past week, with its price chart seeing minimal volatility lately. However, there are chances its market trend might change in the coming days. Now, does this mean XRP bulls are preparing for a rally?  XRP awaits a golden cross! XRP, the world’s seventh largest crypto at press time, only managed to move marginally in the last 24 hours. The altcoin was trading at $0.5474 on the charts. However, things can soon turn bullish for the crypto. This seemed to be the case as according to AMBCrypto’s analysis, XRP seemed to be awaiting a golden crossover, as suggested by the MA cross technical indicator. Whenever a golden cross happens, it means that the chances of a price hike are high. Apart from the crossover, we also found an ascending triangle pattern on the token’s daily chart. A breakout above that mark could kickstart a major bull rally.  Source: TradingView Hence, it’s worth checking XRP’s on-chain data to properly assess the likelihood of a bullish breakout or a golden cross.  What to expect from XRP? Our assessment of Santiment’s data revealed that XRP’s weighted sentiment remained primarily in the positive zone. This meant that bullish sentiment around the token was dominant across the market. Other metrics also looked bullish as they hinted at a price hike. For instance, the MVRV ratio improved considerably. XRP’s network growth was high, meaning that more addresses were created to transfer the token. On top of that, XRP’s exchange outflows rose. A hike in this metric means that buying pressure is climbing too. This often results in price upticks on the charts.  Source: Santiment Another optimistic metric was revealed…

---

Filed under: News - @ October 20, 2024 2:08 am