Popular crypto analyst Armando Pantoja pointed out a XRP bullish milestone in a recent X post. According to Pantoja, XRP has established a Golden Cross on the 4-hour chart, an indicator that may indicate the start of an upward climb. This formation happens when on the chart, the 50-day moving average is higher than the 200-day moving average, implying that the bullish pressure is increasing.
The analyst pointed at the current price and marked the locations where there can be a breakout. XRP has a market capitalization of $0.63, seems to be on the edge of launching an epic recovery. Pantoja’s positive outlook for the pair has inspired many market participants and now many are focusing on the levels $0.65 and $0.70.
XRP Golden Cross Impact
This particular news has been making rounds within the Cryptocurrency community since this particular cross is considered as hallmark of consistently high prices. Another factor that supports the bulls is the current changes in the market and overall emergence of positive sentiments on XRP. Recent trading volumes have been on the rise for XRP, and investors are more optimistic compared to the previous period due to tokens reminiscence with a broader market recovery and renewed interest in digital currencies.
While traded at these points of support or resistance, it becomes felt that the coin is about to break through to the other side of the price level. Analyzing the indicators’ technicalities further uncovers why the Golden Cross is indeed a highly effective signal.
The MA on the 50-day timeframe is considered to be the short-term MA and the 200-day MA is considered to be the long term MA. Similarly, when the short-term trend line moves above the long-term trend line, this is a signal that the market sentiment is shifting towards buying, thus increasing the price.
The RSI was oversold, and now, with XRP’s Golden Cross on the 4-hour chart, one could expect some pretty big moves up. Armando Pantoja added fuel to the fire with his bullish price prediction that traders and investors should get ready for a bumpy and exciting journey to $20.
