XRP Secures Golden Cross Against Bitcoin, What’s Next?
The post XRP Secures Golden Cross Against Bitcoin, What’s Next? appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XRP has achieved a major technical pattern in its Bitcoin (BTC) pairing, forming a golden cross. This technical pattern, often seen as a bullish signal, occurs when a short-term moving average crosses above a long-term moving average. A golden cross happens when the 50-day simple moving average (SMA) crosses above the 200-day SMA, indicating potential upward momentum. XRP has been steadily gaining ground against Bitcoin in recent weeks. The recent altcoin bull run has seen funds flowing from Bitcoin into other cryptocurrencies, including XRP. XRP/BTC Daily Chart, Courtesy: TradingView The XRP price surged to highs of $1.63 on Nov. 23, last seen in May 2021, as bulls extended their rally from Nov. 5’s lows of $0.50. Related In a favorable development, Securities and Exchange Commission (SEC) Chair Gary Gensler announced his resignation on Thursday, throwing in the towel on efforts to regulate the digital asset industry. The market is now closely watching XRP’s price action to gauge the next phase of its performance against BTC. What’s next? XRP has been outperforming Bitcoin in recent weeks. Since Nov. 12, XRP has seen a remarkable increase, reaching levels in its Bitcoin pairing not observed since November 2023. On Nov. 23, XRP/BTC hit highs of $0.00001653, coinciding with the emergence of the golden cross. Related While the golden cross is…
Filed under: News - @ November 24, 2024 11:19 am