Tuesday, October 3, 2023

Incredibly Rare Bullish Pattern Forming for XRP Price: Can Ripple Explode Above $100?

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Crypto enthusiasts are buzzing with anticipation as XRP seems to approach its third bullish golden cross in history.

A golden cross is often used when shorter moving averages surpass or cross long-term moving averages, indicating movement from bearish to bullish.

  • Popular analyst Egrag Crypto on Twitter recently mentioned that the XRP community should prepare for the incoming bullish cross.
  • Egrag’s analysis indicates that every time the 21 weekly EM and 100 weekly EMA create a bullish cross, XRP explodes vastly.
  • Egrag posted an image displaying XRP’s historical data indicating that this coin has only ever seen such golden crosses twice in history, with the upcoming one being its third.
  • The first bullish cross occurred in March 2017, when XRP was trading at just about $0.00672. Shortly after, the asset surged by over 49,155%, reaching a new height at $3.31.
  • Later in 2020, XRP saw its second Golden Cross resulting in a massive 653% value hike. The coin moved from $0.2675 in November 2020 to almost $2 in April 2021. This happened even as XRP suffered from the pressures of the SEC case.
  • Much like the previous events, Egrag hints at possible price surges, which could mirror about half of 2017 increases, about 24,577%, possibly seeing XRP surge to over $128 from the currently prevailing value of $0.5208.
  • Egrad’s tweet spurred a flurry of responses from Twitter users, some just seeking clarity, while others celebrated.

The post Incredibly Rare Bullish Pattern Forming for XRP Price: Can Ripple Explode Above $100? appeared first on CryptoPotato.

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