A significant technical pattern has emerged for XRP, suggesting potential for renewed bullish momentum ahead.
A golden cross has formed on XRP’s daily chart, characterized by its 50-day moving average crossing above its 200-day moving average. Historically, this technical indicator has signaled the beginning of substantial price rallies for the cryptocurrency.
Market analysis points to potential medium-term price targets between $4 and $6, derived from Fibonacci retracement levels. XRP is currently consolidating within a range between $3.34 and $3.66.
This pattern echoes a previous golden cross observed in November 2024. Following that event last year, XRP experienced a significant surge, increasing in value by 460% from lows around $0.50 to reach $3.39.
Heightened institutional interest is also evident, with recent large-scale transfers, including a notable 200 million XRP transaction moving $687 million and a separate 17 million XRP transfer valued at $60 million directed towards a major exchange.
While investor sentiment leans towards cautious optimism, analysts note that short-term profit-taking and market volatility could introduce fluctuations before sustained upward movement potentially materializes.