Jakarta, Pintu News – The price of XRP is showing strong bullish signals after 200 days, and this could be the start of a much-anticipated bullish rally.
With new momentum starting to build, analysts expect a rise towards $3.33 in the short term, with even higher targets in the future.
Dark Defender analysts in their latest analysis noted that XRP is showing a rare Golden Cross signal on the weekly RSI. This could push the price of XRP towards $3.33 in the near term, with a higher target of $5.85.
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These targets are part of a larger bullish trend that is expected to happen soon.
As Bitcoin continues to set new record highs, investor Paul Barron believes that this wave of gains could also lift the price of XRP, with the next target around $4.
XRP recently formed a golden cross against Bitcoin on the weekly chart for the first time in four years.
The golden cross occurred when the 50-week moving average crossed above the 200-week moving average, signaling the possibility of a major upswing in XRP after four years of stagnant prices.
XRP is building pressure for a big move followed by a sharp breakout in either direction. With the RSI close to 60, XRP still has room to move up. Price targets on the upside include $2.68, $2.95, $3.39, up to $3.87.
However, if the price loses support at the $2.30 level, then there is a potential drop to $2.26 or even $2.10, which would mean losing the long-term support zone.
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XRP’s technical indicators are showing mixed signals, but remain mostly positive. MACD indicates selling pressure, while RSI is neutral at 58.
The major moving averages from the 10 to 200 period show strong buying momentum and an overall bullish trend. Currently, XRP is trading at $2.47, up more than 2% in the last 24 hours.
The latest report from Messari shows that XRP experienced strong growth, with market capitalization rising 2% this quarter, while Bitcoin (BTC), Ethereum , and Solana actually fell by 22%.
On an annual basis, XRP’s market capitalization surged by 252%. Network activity was also brisk, with daily active addresses increasing by 142% and new addresses up 210% compared to the previous year.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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