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The formation of a golden cross is about to occur for XRP. When a longer-term moving average like the 200-day EMA crosses above a shorter-term moving average like the 50-day EMA, this pattern is formed. A significant price move for XRP may be imminent, according to traders and investors who frequently see this as a strong bullish signal.
One scenario is a bullish continuation. The next important level to keep an eye on would be around $0.60 if the golden cross occurs and XRP gains bullish momentum. If this level is broken above, XRP may be able to make a run toward $0.65, a significant resistance that has proven difficult in the past.
XRP may aim for even higher targets, possibly reaching $0.70 or $0.75 if the mood of the market as a whole improves, especially with positive flows into ETH and BTC ETFs. Strong market-wide gains and greater interest in altcoins would be necessary for this scenario to materialize.
The second scenario is a bearish rejection. If the golden cross does not spark a bullish breakout, XRP may find it difficult to hold its current levels.
Arman ShirinyanApproximately $0.55 would be the first support to keep an eye on. If XRP drops below this barrier, it might lead to additional losses and possibly to a test of $0.50. If the overall market stays in its current neutral state or moves negative, a decline below $0.50 would suggest a longer-term bearish trend.
In this case, it is possible that XRP gets trapped in a range, unable to break out and vulnerable to downside pressure. The general state of the market is a little uneven. With positive flows seen in ETH and BTC ETFs, Bitcoin is currently trading at around $60,000. Though neither heavy buying or selling pressure is predominating, the market is still in a neutral state. Due to the wait-and-see attitude of altcoins, the outcome of the golden cross is extremely important.
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