Price Analysis

Crypto Market Analysis: Golden Cross to Lift the Ripple (XRP) Price Beyond $0.4 This Weekend

Author: Sahana Vibhute

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A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Altcoins are consolidating heavily as the star crypto, Bitcoin, has remained extremely sluggish in the past few days. However, the XRP price has not followed the trend and has remained in an ascending range.

Meanwhile, the token is about to undergo a bullish event, which could propel the price above critical resistance levels. 

A few days ago, Bitcoin experienced a ‘Golden Cross’ that is believed to have lifted the price from the current consolidation. The very first weekly ‘Death Cross’ that occurred soon after nullified the impact and forced the price to remain consolidated.

Trading view

However, in the coming days, Golden Cross is set to strike the crypto space, but this time it’s with XRP.

The XRP price has been trading within a decisive triangle for quite a long time and has been rising high from the lower support and ranging high.

Therefore, the bullish momentum is growing slowly, and the upcoming event may offer a nice boost for the XRP price, which is required to rise above $0.4 at the moment.

However, the critical resistance lies around $0.5129, clearing which the bears may sign off from the XRP price. 

The technicals also have been displaying strength. Although the RSI remained flat in February, it is now poised to confirm a bullish divergence.

Besides, the MACD is about to undergo a bullish cross-over and rise high. Therefore, bull flags flutter around the Ripple (XRP) price, which may elevate the price beyond $0.4 in the next few days and above $0.5 before the end of the month. 

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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