XRP, continues to be a notable player in the cryptocurrency world, ranking sixth by market capitalization. Recently, there has been a major turning point in the markets, displaying a historical bullish sign such as the first gold crossover or crossover of the year. This occurred during a period of uncertainty in cryptocurrencies in general and attracted the attention of many investors.
A golden crossover occurs when short-term moving averages, specifically the 50-day moving average, cross above a longer-term moving average, the 200-day moving average. This important technical indicator is considered a sign of the long-term trend in the market and attracts great attention among investors.
XRP’s price movements have been quite volatile recently and have turned into a battleground between bulls and bears. However, the emergence of a gold cross gave investors hope that the momentum in the market could change.
The gold cross for XRP is more than just a technical indicator, it also symbolizes the durability of the token. Despite current market conditions, XRP has reached a level that many consider a sign of future growth.
A gold cross can be a positive sign, but it does not necessarily determine future performance. However, for most investors, the gold cross is considered a sign suggesting that XRP may gain more positive momentum in the near future.
XRP’s price movements have decreased significantly after a rapid rise recently. However, despite the bulls’ efforts to maintain the $0.74 level, the bears have increased their pressure.
The bulls attempted to use the $0.67 level as support, but the bears increased the selling pressure and pushed the price below $0.67.
The selling increased further and XRP fell to $0.618 on March 17. Currently, XRP is up 0.01% over the last 24 hours to $0.61.
Based on all these signs, XRP is expected to consolidate between $0.50 and $0.74 before the next big rally. However, a break and close above the $0.74 level could signal the start of a fresh increase towards the $1 target.
