Is the $10 Rally Claim Still Valid as the Price Primed for the First Weekly Golden Cross?
Markets turn optimistic as Bitcoin price rises inches close to $100,000 As its trading price stabilizes above $97,000. However, as U.S. trade begins, buying pressure escalates, which could turn the tide for the entire cryptocurrency space. at the same time, Ripple priceIt has seen a big breakout over the past few days and is now holding on to its gains strongly. Therefore, with XRP showing strong potential to surpass its 2021 highs, it is believed that XRP price gains will intensify soon.
Since the SEC filed a lawsuit against Ripple, the XRP price has been very severely affected. Delisting from major exchanges forced prices lower and dampened positive market action. However, the final verdict had a positive impact, but unfortunately only for a short period of time. However, bullish sentiment towards the coin appears to have escalated, so the healthy uptrend may continue for longer.
XRP’s weekly chart is sending a huge bullish signal as XRP braces for a huge price move. The 50/200-day moving average is about to make its first ever bullish crossover, which could provide a major boost to the rebound. The RSI remains within the ascending parallel channel and despite the bearish divergence from resistance, it is believed that this level will maintain a healthy upward trend and regain $1.25 in the short term.
After the golden cross, the price may rise above $1.32, which is also the trend reversal zone. If the bulls can sustain above these levels, a breakout above $1.5 could be imminent. However, after a prolonged period of downturn, a sharp breakout is expected and could lead to a sharp rise above $2 in the first few weeks of 2025. If the price can withstand the bearish action at these levels, XRP price may head towards its ATH.
Meanwhile, the current double-digit XRP price seems like a tedious undertaking. The last bull run failed to take the coin to new highs, so the upcoming bull run will certainly not push its levels into double digits.
