$XRP Price Chart Forms Bullish ‘Golden Cross’ Pattern As Analysts Predict Upward Movement
XRP Ledger’s native token, $XRP, recently formed a bullish “golden cross” pattern that includes when an asset’s short-term moving average crosses above its long-term moving average. Gold crosses are considered a potential indicator of large price rallies. Analysts on social media have noted that XRP’s 50-day moving average recently surpassed the asset’s 200-day moving average and formed a bullish golden cross pattern, while the RSI and moving average indicators lost average convergence divergence (MACD) remain bullish.
According to Investopedia, there are three stages of a golden cross, with the first requiring a downtrend to bottom out as selling ebbs eventually. The second phase occurs after the shorter moving average “makes an upside crossover through the average to trigger a breakout and confirmation of the trend reversal.” A third stage occurs with the continuation of an uptrend. XRP’s golden cross pattern formed when XRP-focused investment products recorded $800,000 from entries last week, which is relatively small compared to BTC’s $4.6 million inflows over the past week, but “the longest since the lawsuit began with the SEC.”
XRP’s price surged last month after reports revealed that Ripple and the SEC seek a decision in their long-running legal battle through so-called summary judgment. The documents indicate that neither side wants the litigation to continue for a complete examination. The SEC sued Ripple and two of its executives in 2020, claiming they sold unregistered securities when they issued $1.3 billion in XRP tokens. Ripple denies that XRP is a security.
As reported, a panel of cryptocurrency experts predicted that the price of $XRP could surge to $3.81 by the end of 2025 if Ripple wins its lawsuit against the SEC. However, experts predicted that if Ripple loses, the cryptocurrency will trade as low as $0.98.
The cryptocurrency community expects XRP to fall by the end of this year, trading around $0.40. The figure marks a sharp drop from XRP’s current levels and suggests that while the token has rallied, the community is viewing this as a short-lived rally that will eventually dissipate with a sell-off.