XRP Price Analysis: Golden Cross Signals Potential Rally to $0.6

IconCryptoNewsTerminal Staff13 Aug, 2024

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XRP Price Analysis: Golden Cross Signals Potential Rally to $0.6

XRP has been showing signs of strengthening bullish momentum, according to crypto analyst and trader, Arman Shirinyan. The XRP/USD daily chart shows that the 50-day simple moving average (SMA) is about to cross above the 200-day SMA, forming a golden cross. This technical indicator is often interpreted as a sign of a bullish trend reversal and could indicate that XRP is poised for further gains. If XRP can hold above the 50-day SMA at $0.5364, it could rally to $0.60. However, if it fails to hold above this level, the bullish scenario would be invalidated.