Uncover the Potential Bull Run: XRP Price Signals a Golden Cross Breakout
Emily HarrisLast time XRP saw this signal, price rocketed 13%, here's what it's about[...]
XRP Poised for Breakout as Golden Cross Emerges
Technical Setup Hints at Potential Upside Move
In a development that has crypto traders buzzing, XRP has just formed a golden cross on the eight-hour timeframe — a bullish technical pattern where the 23-period moving average crosses above the 200-period. This exact signal last appeared in May, preceding a swift 13% gain for the token in just four days.
Now, the market is closely watching to see if history will repeat itself. The new crossover is forming after a period of consolidation, where XRP held key short-term support levels but struggled to build meaningful upward momentum. However, over the past 48 hours, the price has reclaimed the 200-day moving average, setting the stage for the golden cross confirmation.
Cautious Optimism as Technicals Improve
Compared to the May move, the current setup has slightly more technical overhead and weaker trading volume, but the basic structure remains similar. Price action has been tightening around the $2.20-$2.25 range, with the moving averages catching up to that level. This could give bulls an opportunity to attempt a local breakout, especially if the trading volume starts to pick up.
Short-term traders will likely keep a close eye on whether XRP can sustain a close above $2.25, as well as monitor the volume trends. A failure to hold above the 200-day line in the coming sessions could signal a loss of strength for the asset.
Golden Cross: A Potential Trend Shift Indicator
Golden crosses on higher timeframes are often viewed as signals of potential trend shifts. While this particular golden cross is forming on the eight-hour chart, rather than the daily, the previous similar setup was followed by a swift price move. This development could be a significant event for short-term XRP traders.
So far, there have been no major breakouts, but the bullish technical signal is in place. Now, the focus shifts to whether XRP can follow through and capitalize on the golden cross formation.
