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Something interesting is happening on XRP’s price chart, but whether it is the start of something bigger or just another moment in crypto’s unpredictable cycle remains to be seen. The token’s performance against Bitcoin (BTC) has been hard to ignore, with a 367% surge since November at its peak. And now, a major technical signal has emerged, one that traders are watching closely.
A golden cross on the weekly time frame has been formed. That is when a shorter moving average - in this case, the 23-day - crosses above a longer moving average, like the 200-day.
Arman ShirinyanHistorically, this kind of crossover suggests strong bullish momentum, hinting at the possibility of big gains ahead. But markets are not always that simple. Crypto, in particular, is a master of irony.
For now, XRP sits at 0.000026 BTC, having climbed 33.8% in the past 24 hours. That spike followed a broad market shakeup, which added to the unpredictability of the current trend. Still, its record high against Bitcoin, set in May 2017 at 0.00025 BTC, is a long way off. If XRP were to return to that peak, its price in dollar terms would be over $24.7.
$1 trillion XRP: Dream or reality?
It is an appealing idea, but is it realistic? Think about this: in just two months, XRP surged from $0.55 to $3.40, which is a 650% increase, and its market cap shot up to almost $200 billion. To reach $24.70, XRP's market cap would have to surpass $1 trillion. That is not impossible, but it is definitely a challenge.
Gamza KhanzadaevA lot is riding on broader market conditions. Investor sentiment, major economic shifts and new regulations will all shape what happens next. The golden cross is a good sign, but history has shown that just having momentum is not enough.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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