2024

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<a href="https://u.today/xrp-volume-skyrockets-85-ahead-of-critical-price-threshold">XRP</a>, the sixth-largest cryptocurrency by market capitalization, has posted its first golden cross of the year, a technical indicator that has historically signaled the potential for a bullish market trend. This occurrence coincides with a period of market uncertainty, during which most cryptocurrencies saw profit-taking.
A golden cross occurs when a shorter-term moving average, such as the 50-day moving average, crosses above a longer-term moving average, like the 200-day moving average. This indicator is widely regarded by traders and analysts as a potential signal that indicates a long-term bull market emerging.
XRP's recent price action has been a battleground for bulls and bears, with the token's value experiencing significant fluctuations. The formation of the golden cross has brought a glimmer of hope to investors, suggesting that a change in momentum might be on the horizon.
<img alt="TradingView" data-entity-type="file" data-entity-uuid="aec49a34-5b7f-4697-86d1-a1f666a1034e" src="https://u.today/sites/default/files/inline-images/18032024%200000.png"><a href="https://www.tradingview.com/x/zjAn00XH/">XRP/USD Daily Chart, Courtesy: TradingView</a>
For XRP, the golden cross is more than simply a technical occurrence; it represents resilience. Despite the current market drop, XRP has reached a level that many in the community see as an indication of oncoming growth.
The golden cross is a positive indicator, but it does not guarantee future performance. However, for many, the golden cross is a beacon of optimism, implying that XRP may see more positive momentum in the days ahead.
<h2 id="xrp-price-action">XRP price action</h2>
Following a rapid rise, XRP fell from $0.74 on March 12, showing that the bears are firmly defending the level.
The bulls attempted to turn $0.67 into support, but the bears had different <a href="https://u.today/xrp-attracts-massive-25-million-inflows-in-bullish-crypto-market">intentions</a>. They proceeded to sell, bringing the price back below $0.67.
The selling increased further, as XRP fell to a low of $0.618 on March 17 before rebounding. At the time of writing, XRP was up 0.01% in the previous 24 hours, reaching $0.61.
According to all signs, XRP may consolidate in a wide range between $0.50 and $0.74 for some time before its next major rise. A break and close above $0.74 will mark the beginning of a fresh upswing toward $1.

XRP Posts First 2024 Golden Cross Amid Price Uncertainty

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