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XRP All Time High Looms as Golden Cross Sparks Bullish Momentum

Published by
Vignesh S G

Since November 5, XRP has seen a massive rise, gaining at least 218.68%. In the past four days alone, it has surged by more than 14.69%. Currently, XRP’s price is only 14.39% below its peak of $1.83558 in 2021. More importantly, on the weekly chart, the 50-day moving average (MA) is about to cross above the 200-day MA—this could signal the start of a golden cross.

A golden cross is typically a strong bullish signal, often leading to significant price increases. It’s especially rare to see this pattern on weekly charts, making it all the more interesting. Could this mean a new all-time high (ATH) for XRP?

Could $4.20 be the next milestone? Read on to find out!

XRP’s Impressive Growth: What’s Behind the Surge?

In the last month, XRP, the sixth-largest cryptocurrency with a market cap of $91.58 billion, has skyrocketed by 206.1%. At the start of November, XRP was priced at $0.51343. It briefly dropped to $0.50192 on November 4, but quickly reversed when buyers took control. Since then, the price has been steadily climbing.

Despite experiencing two minor corrections—a 5.92% dip on November 17 and a 5.07% drop between November 23 and 26—the price has remained strong. Over the last seven days, XRP surged by 17.2%, continuing its upward trend.

Will XRP hit $4.20 soon? Read XRP price prediction now to uncover the bullish trends and key technical signals driving this surge!

Will XRP Reach $4.20?

Looking at the weekly chart, it’s clear that the 50-day Simple Moving Average (SMA) is about to cross above the 200-day SMA, forming a golden cross. This pattern last appeared in 2021, when XRP hit $1.56055. It also appeared before the 2018 ATH. A golden cross is widely considered a sign of bullish momentum, and history suggests XRP could be on track for another major rally.

Moreover, XRP has broken through a significant five-year resistance level, connecting the highs from 2018 and 2021. This makes the bullish signals even more compelling, suggesting that XRP could continue rising beyond its 2018 ATH of $3.317—and possibly reach $4.20.

XRP Price Prediction: What’s Next?

With these strong technical indicators, it’s possible that XRP could reach $4.20 in the near future. Some analysts are even predicting a market rally similar to those seen in 2018 and 2021, making this an exciting time for XRP investors.

XRP’s recent surge is driven by two main factors: the formation of a rare golden cross on the weekly chart and the breakout above a major five-year resistance level.

These bullish signals have fueled optimism in the market, with many analysts predicting that $4.20 is within reach.

Why is XRP Going Up?

XRP is surging due to the formation of a rare golden cross on the weekly chart, signaling strong bullish momentum. Additionally, breaking through a 5-year resistance level has further fueled optimism, with analysts predicting a potential price target of $4.20.

From golden crosses to resistance breaks, XRP’s bullish momentum is setting the stage for something exciting.

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

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