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For the first time since January 2018, XRP has flashed a golden cross against Bitcoin on the monthly TradingView chart — and the setup is almost identical to the one that triggered a jaw-dropping 972% rally eight years ago in 2018.
For those not familiar with the golden cross concept, the 23-month SMA just crossed above the 50-month SMA, which is what experienced chartists and quants call a macro golden cross.
On the XRP versus BTC chart, this has only happened once before, right before the altcoin surged from 0.000023 to 0.000228 per Bitcoin in just three monthly candles.
That same range is back on the radar now, with the pair trading at 0.000021 and showing the same low-volume compression, long base structure and fractal recovery arc.
Back in 2018, this exact crossover heralded the end of a long period of Bitcoin dominance and the start of the most explosive repricing ever for the XRP price.
$17 for XRP as ultimate dream target
With the leading cryptocurrency now well over $89,000, and the altcoins at least trying to show some early signs of rotation, those who spot the golden cross are watching the XRP/BTC pair as a high-beta play that could headline a major altcoin breakout.
If the pattern repeats itself, XRP would reclaim 0.000228 BTC — translating into a 930% gain from current levels. With BTC holding at around $90,000, the price of XRP could reach over $17. Some skeptics may say XRP is not as popular as it was in 2017-2018, but it is the price action that often dictates the sentiment, not vice versa.
Two golden crosses in nine years. The last one ended with XRP overtaking Ethereum by market cap. This one could decide whether it happens again.
Godfrey Benjamin
Gamza Khanzadaev
Arman Shirinyan
Alex Dovbnya