XRP is on the brink of securing a first-of-its-kind golden cross against Bitcoin (BTC), a rare technical event that could propel the altcoin to new all-time highs. This potential crossover comes despite the recent crypto market downturn, which has seen XRP decline by 22% in the past week.
XRP’s Market Struggles and Triumphs
The broader altcoin market has suffered under Bitcoin’s dominance, as BTC remains resilient due to its increasing institutional adoption. However, XRP emerged as a standout performer in late 2024, fueled by a rally following President Donald Trump’s victory in the November elections. Between Nov. 11 and Dec. 8, XRP outperformed Bitcoin, surging by 155% against BTC over four consecutive weeks.
Golden Cross on the Horizon
XRP’s bullish momentum led to a significant rise in its 23-week moving average (MA), which climbed from 0.00000871 BTC in November to 0.00001700 BTC currently. More notably, this surge has brought the 23-week MA in close proximity to the 200-week MA, which currently stands at 0.00001707 BTC.
A golden cross occurs when a shorter-term moving average crosses above a longer-term moving average, often signaling a strong bullish breakout. If XRP sustains its momentum against Bitcoin, the 23-week MA could surpass the 200-week MA in the coming month, marking the first occurrence of such a golden cross on the XRP/BTC weekly chart. This event could have significant implications for XRP’s price trajectory.
Fibonacci Extensions Point to $5 XRP
At its current level of 0.00002490 BTC, XRP remains above its key Fibonacci support at 0.00002395 BTC. Despite Bitcoin gaining ground, XRP still holds an uptrend signal as its +DI (Directional Indicator) remains higher than the -DI, suggesting that bulls could regain control.
Also Read: Ripple’s Chris Larsen Demonstrates Instant Bitcoin Transfers Over the XRP Ledger
If the anticipated golden cross materializes, XRP could first target the 78.6% Fibonacci retracement at 0.00002864 BTC, followed by its previous peak at 0.00003462 BTC. A further rally could push XRP toward 0.00004222 BTC, aligning with its next key resistance level.
Should XRP reach the 1.618 Fibonacci extension at 0.00005189 BTC, and assuming Bitcoin trades at $97,721, XRP’s price in dollar terms would hit $5.07—setting a new all-time high. This scenario, while ambitious, remains within reach if bullish momentum returns to the market.
As XRP eyes this historic golden cross, traders are watching closely to see if the altcoin can defy market conditions and reclaim its bullish trajectory.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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