Home Altcoins News XRP Price Jumps 10% as Golden Cross Hints at More Gains

XRP Price Jumps 10% as Golden Cross Hints at More Gains

XRP Price Jump

XRP has experienced a significant 10% surge over the past 24 hours, with its market capitalization reaching $181 billion and daily trading volume exceeding $10 billion. This positive momentum comes as XRP continues to show resilience, especially after its record-breaking performance in mid-January. Despite a slight reduction in whale activity, interest from large holders remains strong, suggesting that XRP is in a favorable position for further growth. Several technical indicators, including the Chaikin Money Flow (CMF) and Exponential Moving Average (EMA) lines, hint at more bullish price action, which could potentially propel XRP to new highs.

Whale Activity and Market Sentiment

In recent weeks, XRP whale addresses—those holding between 10 million and 100 million tokens—had surged to 305, marking one of the highest levels recorded in recent months. However, this figure has since decreased slightly to 299. Despite this minor dip, whale activity remains elevated, signifying that large investors still hold a strong conviction in the token’s potential. Historically, the presence of whales in the market has been a strong bullish signal, as their accumulation patterns often precede significant price rallies. Their continued involvement suggests that XRP could maintain its upward trajectory, barring any drastic market shifts.

Chaikin Money Flow Indicates Growing Bullish Pressure

One of the key indicators signaling XRP’s potential for more upside is the Chaikin Money Flow (CMF), which has risen sharply from 0.08 to 0.19 in just 24 hours. The CMF is a volume-weighted average of accumulation and distribution, showing whether capital inflows are outpacing outflows. A positive CMF indicates that more investors are accumulating XRP, which reinforces the notion of increasing demand and growing bullish sentiment. As the CMF continues to trend upward, it serves as an important confirmation that buying pressure is building, potentially paving the way for a sustained rally.

Golden Cross Formation and Potential Price Targets

The technical outlook for XRP also suggests a golden cross may be forming. This pattern occurs when a short-term moving average, like the 50-day EMA, crosses above a long-term moving average, such as the 200-day EMA. Historically, the golden cross is considered a powerful bullish signal, indicating the potential for further upward movement. If this pattern materializes, XRP could see its price target the $3.28 resistance level. A successful breakout above this barrier would likely trigger additional upward momentum, with the next key resistance points coming in at $3.40 and the possibility of reaching a new all-time high of $3.50.

Support Levels to Watch

While the overall outlook for XRP remains optimistic, key support levels must hold to ensure the bullish momentum persists. If XRP fails to maintain support at $3.03, the price could drop to test the $2.82 mark, and in a worst-case scenario, it could fall as low as $2.60 or even $2.32. This would represent a potential decline of 26.5%, highlighting the importance of watching these crucial price levels in the coming days.

Future Outlook for XRP

The combination of whale interest, rising CMF, and the potential for a golden cross makes XRP an appealing asset for investors looking for further price appreciation. If XRP can break through key resistance levels and maintain support, it could embark on another rally toward new highs. However, market conditions remain volatile, and investors should remain cautious, especially if support levels falter. As always, monitoring XRP’s price movements and key technical indicators will be critical in the coming weeks.

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Sakamoto Nashi

Nashi Sakamoto, a dedicated crypto journalist from the Virgin Islands, brings expert analysis and insight into the ever-evolving world of cryptocurrencies and blockchain technology. Appreciate the work? Send a tip to: 0x4C6D67705aF449f0C0102D4C7C693ad4A64926e9

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