XRP Set To Surge As Key Signal Points To Trend Recovery

Crypto traders, always on the lookout for a sign of a rebound, have reason to be cheerful. XRP finally seems to be showing signs of life after months of stagnation. A “mini-golden cross” is approaching, a technical signal often indicative of a rapid bullish trend. With a recent breakout above its descending wedge pattern, XRP is currently well above its key moving averages. This mini-golden cross, although less publicized than the 50/200 EMA one, could well awaken the markets.

XRP: a suddenly promising technical signal

Since February, the XRP price had been lingering in a frustrating sideways movement, trapped in a descending wedge pattern. However, this month, a breath of optimism has hit the crypto. XRP, currently at $2.28, has overcome several important technical obstacles. It is now above the three major moving averages: 50 EMA, 100 EMA, and 200 EMA, a rare and favorable setup for an altcoin.

A key element catches traders’ attention: a mini-golden cross seems imminent. This crossover of the 50-day moving average above the 100-day moving average is a powerful signal, especially for altcoins like XRP, which have a tendency to accelerate quickly after such crossings. This type of signal is generally associated with short- and medium-term rallies, as it indicates imminent bullish momentum.

Some investors do not hesitate to evaluate the potential of this crossover. 

Signal: A confirmed MACD golden crossover on the 3-day timeframe for XRP.

The acceleration of volumes, although moderate for now, suggests that such a move could gain momentum in the coming days.

Key resistance to watch: the $2.50 barrier

Taking a closer look, it becomes clear that XRP must now contend with two crucial levels. The first is the immediate resistance at $2.30, which represents a key point to break. If XRP manages to surpass this level, the path will be clear towards the symbolic $2.50 mark, the next technical and psychological resistance. Beyond that, $3.00 seems to be a realistic short-term target, given the strong volume congestion observed at that level in the past.

However, XRP must keep in mind an essential support zone. If the price falls below $2.20, the effect of the mini-golden cross would be significantly weakened. Such a setback would jeopardize the positive momentum currently forming, forcing traders to watch this area closely.

Let us remember, the resistance at $2.50 remains the main hurdle for XRP in the coming days. This level could well determine whether the mini-golden cross will lead to a true price acceleration or if the momentum will quickly be halted. Traders must be vigilant at these critical levels while observing volumes and technical indicators, such as the Bollinger Bands.