The post XRP Eyes Run to ATH as Historic Golden Cross Nears Amid Spike Above $1.8 appeared on BitcoinEthereumNews.com.

XRP is on the brink of engineering a run to a new all-time high as it looks to record a historic golden cross amid the recent rally. The market has embarked on a recovery campaign, and XRP appears to be leveraging this push better than most. For instance, XRP has gained by an impressive 16.5% over the past 24 hours, making it the biggest gainer among the top 70 assets and third biggest on the top 100 list. XRP Eyes Golden Cross This short-term bullish momentum has triggered a rapid spike in its short moving averages (MAs), leading to an impending golden cross on the weekly timeframe. Notably, a golden cross occurs when a shorter moving average (especially the 50-period MA) rises above a longer moving average (especially the 200-period MA). This phenomenon indicates that the asset’s short-term momentum has flipped massively bullish, enveloping its longer-term momentum. Interestingly, the occurrence of a golden cross typically signals that the bullish push could linger, possibly leading to greater price heights. XRP has gained 62% over the last two weeks, solidifying its bullish short-term outlook. The asset recently flipped Binance Coin (BNB) to become the fifth-largest crypto asset globally and has also reclaimed a $100 billion market cap amid the latest run. XRP Impending Weekly Golden Cross This push has triggered a rise in the 50-week MA (orange), which now sits at $0.6020. At press time, the 50-week MA is on the verge of overcoming the 200-week MA (green) at $0.6299. If this occurs, the golden cross will have materialized, setting the stage for more explosive surge. Notably, this weekly golden cross has only occurred once since XRP launched, particularly during the 2021 rally. The phenomenon resulted in a rally that saw XRP reclaim previous highs in early 2021, but the prevalent SEC lawsuit…

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Filed under: News - @ November 30, 2024 3:26 pm