XRP price eyes rare Golden Cross.
$4.20 XRP is back on radar as an ultra rare double golden cross emerges.
- First Golden Cross. 23-day MA crossed above 200-day MA.
Five days ago, the 23-day moving average broke above the 200-day, forming the first golden cross. The price then jumped from around $2.90 to over $3.50.
- Second Golden Cross. 50-day MA nearing a cross above 200-day MA.
Now, the 50-day moving average is closing in on the 200-day moving average. If it crosses as well, the market will have two golden crosses back-to-back - a rare setup in its nature, but common in bull rallies.
If confirmed, XRP will have 2 golden crosses in succession – rare and bullish
- Next target. XRP price poised to $4.20.
That was the breakout target when XRP was consolidating within a large triangle pattern, before it went 700% from $0.50 to $3.50. Now, with things cooling off slightly and consolidating, $4.20 is back in play as the next logical step.
Would Michael Saylor buy XRP?
Comparing Saylor's Bitcoin gains to his potential XRP gains makes no sense, according to analyst.
- Missed opportunities. If Michael Saylor had invested in XRP instead of Bitcoin, his portfolio would be worth nearly 2x more today.
Had Saylor invested in XRP instead of the original cryptocurrency, the portfolio would be worth almost double as of today, according to the estimates performed by former RippleX engineer Matt Hamilton. Moreover, Saylor's purchase of the XRP token would likely push the price further due to media attention.
- Christopher Inks' rebuttal. Saylor wouldn’t “touch it”.
Following XRP's enormous price rally, there has been a heated debate about whether or not Strategy's Michael Saylor would have been better off picking the Ripple-linked token instead of Bitcoin.
However, Christopher Inks of TexasWest Capital believes that the idea that Saylor would even touch XRP is essentially nonsense.
Shiba Inu price suggests Ethereum pattern
- Ethereum bullish signal. 200-day MA.
This week, Ethereum has pushed through its 200-day moving average on the two-day chart, flashing one of its most reliable continuation signals.
- Shiba Inu bullish signal. 200-day MA.
But at the same time, its most prominent meme proxy, Shiba Inu (SHIB), is just behind. Though not for long, if the charts hold true. SHIB is currently up 9.13%, approaching its own 200-day moving average on the same two-day time frame.
SHIB vs. Ether. Pre-breakout structure.
The last time Ethereum broke above this long-term resistance, it triggered a multi-week vertical rally. The same setup appears to be forming under SHIB's surface. Right now, the token is on a clear upward trend, with an increase in trading volume. This is often a sign that a bigger price movement is about to happen.
Vladislav Sopov
U.Today Editorial Team