XRP Golden Cross Emerges on Multiple Timeframes, Analysts Anticipate a 10x to 650x Price Spike

These projections hinge on XRP’s historical performance following previous formations of this pattern.

Two prominent crypto analysts have identified a ‘golden cross’ on XRP’s 5-day and daily charts, respectively. This technical formation has historically preceded significant price increases for the remittance token.

Prominent crypto market analyst Jaydee recently shared a 5-day XRP price chart, highlighting two previous golden crosses that led to dramatic price increases.

In 2017, a golden cross preceded a 650x surge in XRP’s price over 280 days, leading to the token’s all-time high of $3.31. In 2021, another golden cross triggered a 10x surge in XRP’s price within 70 days, reaching a high of $1.96 in April 2021.

Jaydee now points out a third golden cross on the 5-day chart, which could signal another bullish breakout. The 50 5-day moving average (light blue) has crossed above the 200 5-day moving average (dark blue), indicating a bullish trend.

Moreover, XRP has been trading within a symmetrical triangle pattern, which multiple analysts have identified on different timeframes.

The convergence of the moving averages at the apex of this triangle suggests a potential explosive breakout to the upside, which could lead to the kind of gains seen in previous cycles.

Hence, Jaydee anticipates a 10x to 650x surge in XRP’s price once the uptrend begins. From its current trading price of around $0.60, a 10x increase would put XRP at a more realistic price of $6. However, a 650x spike could push prices toward $390.

Another prominent crypto analyst, Xoom, has highlighted a golden cross on XRP’s daily chart.

While this cross is on a smaller scale than the one identified by Jaydee, its significance for the short-term price action remains crucial.

The last time XRP formed this sort of golden cross on the daily chart was in early February of this year. Following that signal, XRP’s price surged by 50%, moving from $0.4968 on Feb. 5 to $0.7449 by March 11.

Currently, XRP is trading just above the golden cross, consolidating within a tight range. Resistance levels are defined by the S1 pivot point at $0.65974, followed by the R2 at $0.72478 and the R3 at $0.83004.

After weeks of a downtrend, XRP seems to be on a recovery path. The token is currently trading at $0.6089, having bounced off support around $0.44921, as indicated by the S1 pivot point.

The MACD indicator is also in bullish territory, with the MACD line (blue) crossing above the signal line (orange), representing a buy signal.

Additionally, the histogram has shifted into positive territory, further indicating that momentum is turning in favor of the bulls.

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