A golden cross formation is on the horizon for XRP. This pattern emerges when a longer-term moving average, such as the 200-day EMA, crosses above a shorter-term moving average, like the 50-day EMA. Traders and investors often interpret this as a powerful bullish signal, suggesting that a significant price movement for XRP could be imminent.
One possible scenario is a continuation of the bullish trend. If the golden cross occurs and XRP gains upward momentum, the next key level to monitor would be around $0.60. Breaking above this level could pave the way for XRP to target $0.65, a notable resistance that has posed challenges in the past.
Should market sentiment improve, particularly with positive inflows into ETH and BTC ETFs, XRP could aim even higher, potentially reaching targets around $0.70 or $0.75. This scenario would require strong market-wide gains and increased interest in altcoins.
On the flip side, a bearish rejection is also possible. If the golden cross fails to ignite a bullish breakout, XRP might struggle to maintain its current levels.
The first support level to watch would be approximately $0.55. A drop below this level could lead to further declines, possibly testing $0.50. If the overall market remains neutral or turns bearish, a fall below $0.50 could signal a longer-term downward trend.
In this case, XRP might find itself stuck in a range, unable to break out and subject to downward pressure. The overall market remains somewhat uncertain, with Bitcoin trading around $60,000 amid positive flows into ETH and BTC ETFs. Despite the neutral market stance, the outcome of the golden cross will be crucial as altcoins await their next move.
