XRP Golden Cross Flip? One More Trigger Left
XRP is on a rebound move as the price outlook is supported by technical indicators. Notably, the asset, which slipped below the $3 support to $2.96, has shown signs of recovery. XRP is also on track to form a golden cross, as the 9-day and 21-day moving averages look ready to intersect.
Rising XRP trading volume supports bullish outlook
According to data, this appears on track to trigger a golden flip with just one more factor left to be checked to confirm this development. As of press time, the XRP price was changing hands at $3.01, which represents a 1.73% increase in the last 24 hours, according to CoinMarketCap data.
The price gain is also supported by an uptick in trading volume. Within the same time frame, volume rose by 1.11% to $6.49 billion. The development signals renewed optimism among traders and investors in the space.
If these activities succeed in pushing XRP’s price to between $3.30 and $3.50, the coin is likely to break out in a bullish rally and may confirm the golden cross setup. The current rebound saw XRP climb from the technical support of $2.95 after it reached oversold conditions. Its Relative Strength Index had hit 48.96.
Meanwhile, as reported by U.Today, Ripple’s recent transfer of XRP worth $606 million has sparked hopes of sustained recovery on the market.
SEC’s pending XRP ETF decision, possible game-changer
On the broader market, the Securities and Exchange Commission (SEC) has shifted its decision on the XRP exchange-traded fund (ETF) to October. The decision on two proposals filed by 21Shares and CoinShares in November 2024 and January 2025 has been shifted to Oct. 23.
However, market participants and analysts alike consider the shift as a general procedure and not a delay in itself. They cite the regulatory clarity following the Ripple and SEC legal settlement as grounds for likely approval of the XRP ETF.
With XRP’s recovery on course, investors will be eyeing the $3.43 level, as a break could signal a bullish run. However, failure to sustain the rally might crash prices below $3 again.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
ECB says no need for more rate cuts now as inflation hits 2% target
Share link:In this post: The ECB has paused rate cuts after inflation hit the 2% target. Olli Rehn said there’s no need for more cuts unless new risks appear. Joachim Nagel believes policy should stay unchanged unless conditions shift.
Databricks buys Sequoia’s Tecton in push to dominate enterprise AI tools
Share link:In this post: Databricks is acquiring Tecton to boost its real-time AI agent tools. Tecton was last valued at $900M and has around 90 employees. The deal follows Databricks’ $100B valuation term sheet signed this week.
Vitalik Buterin’s FOCIL proposal reignites censorship debate among Ethereum leaders
Share link:In this post: Vitalik Buterin argues FOCIL will make Ethereum more neutral and censorship-resistant. However, Reflexer Labs warns that FOCIL could be a big problem for Ethereum as the current system is still working. Debate on censorship resistance continues with crypto attorney Gabriel Shapiro saying FOCIL might be worth the risk.
Trump’s $9B investment won’t fix Intel’s real problem
Share link:In this post: The U.S. government, under Trump, will invest $8.9 billion for a 9.9% stake in Intel, aiming to boost domestic chip production and make the government Intel’s largest shareholder. Despite the funding, analysts warn Intel’s contract chipmaking (14A and 18A processes) won’t be viable without major external clients and improved manufacturing yields. The deal, which includes discounted shares and no board seat, reflects a rare federal intervention in corporate ownership.
Trending news
MoreCrypto prices
More
