XRP Price Holds Above $1: Is the $10 Rally Claim Still Valid as the Price Primed for the First Weekly Golden Cross?
The post XRP Price Holds Above $1: Is the $10 Rally Claim Still Valid as the Price Primed for the First Weekly Golden Cross? appeared first on Coinpedia Fintech News
The markets have become optimistic as the Bitcoin price inches close to $100K as it trades firmly above $97,000. However, with the start of the U.S. trade, the buying pressure has escalated, which may turn the tables for the entire crypto space. Meanwhile, the XRP price, which displayed a massive breakout in the past few days, is strongly defending above the gains. Hence, the XRP price rally is believed to intensify very soon as the token displays a huge possibility of surpassing the 2021 highs.
Ever since the SEC slapped a lawsuit on Ripple, the XRP price has been very badly impacted. The delisting from the major exchanges compelled the price to sink and refrained from the positive market actions. However, the final judgement had a positive impact but unfortunately remained only for a short while. However, the bullish sentiments for the token appear to have escalated and hence a healthy uptrend could persist for a longer time ahead.
The weekly chart of XRP flutters huge bullish signals for the token as the token gears up for huge price action. The 50/200 day MA is about to undergo a bullish crossover for the first time in history, which could offer a major boost for the rally. The RSI holds within a rising parallel channel and despite a bearish divergence from the resistance, the levels are believed to maintain a healthy upswing and reclaim $1.25 in a short while.
After the golden cross, the price may rise above $1.32, which is also a trend reversal zone. If the bulls manage to sustain above these levels, a rise beyond $1.5 could be imminent. However, after being sluggish for a long time, a breakout is expected to be intense and may trigger a huge rise above $2 somewhere in the first few weeks of 2025. If the price withstands bearish actions at these levels, the XRP price could head towards its ATH.
In the meantime, the two-digit figure for the XRP price currently appears to be a tedious job at the moment. The previous bull run failed the token to mark new highs and hence the upcoming one may certainly not elevate the levels to a double-digit figure.