Ripple News: XRP Price Forms Golden Cross: Is ATH on Cards?
The post Ripple News: XRP Price Forms Golden Cross: Is ATH on Cards? appeared first on Coinpedia Fintech News
Cryptocurrency enthusiasts are abuzz with excitement as XRP, the fourth-largest digital asset, has formed a rare Golden Cross on its three-day chart. A Golden Cross occurs when a short-term moving average crosses above a longer-term one. This event, which has happened only twice before in XRP’s history, is often considered a harbinger of extended bullish market activity.
Renowned XRP advocate Mack Attack (@MackAttackXRP) took to Twitter to share insights about this auspicious development. The first Golden Cross in April 2017 saw XRP’s price at around $0.0264, paving the way for an astonishing 12,437% surge that led to an all-time high of $3.317 in January 2018.
XRP prints a rare Gold Cross. This has only been seen twice before with XRP in History.
The appearance of this third Golden Cross could well lead to a prolonged Bull Market that is unprecedented.#XRP $XRP #Goldencross #History #BullRun pic.twitter.com/Fl20eJEtZr
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MackAttackXRP®
XRP enthusiasts remember the most recent Golden Cross in March 2021, which sparked a notable rally. Within just 56 days, XRP’s price surged by an impressive 400%.
Currently hovering around 60 cents, XRP’s history dates back to 2017 when it was below one cent. This recent Golden Cross on the three-day chart has rekindled hopes of reaching the coveted $1 mark.
Besides the technical analysis, the ongoing legal tussle between XRP and the SEC also plays a pivotal role in shaping XRP’s price trajectory. The recent ruling in this legal battle already caused a price jump. Anticipation of further developments, in this case, continues to contribute to XRP’s price fluctuations.
Market observers believe that the convergence of the Golden Cross and the legal battle’s dynamics could usher in a new era of substantial gains for XRP. Enthusiasts and investors are closely watching these factors as XRP aims to secure its position in the volatile cryptocurrency landscape.
