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- XRP experienced a notable surge in its price, trading at $0.65 with a market cap of $35.1 billion, and recently formed a golden cross on the 4-day timeframe.
- Crypto analyst JD predicts an imminent price breakout for XRP after the recent golden cross, with projections hinting at a potential rally beyond the $14 threshold.
Ripple’s native cryptocurrency XRP has witnessed a strong price surge recently participating in the broader market rally. In the last 24 hours, the XRP price has surged by an additional 3.35% and is currently trading at $0.65 with a market cap of $ 35.1 billion.
XRP has recently formed a golden cross on the 4-day timeframe, as highlighted by crypto analyst JD, who predicts an imminent price breakout based on historical patterns. The golden cross occurs when the shorter moving average (MA) crosses above the longer moving average, signaling bullish momentum.
JD’s analysis, presented on X (formerly Twitter), showcases a 4-day XRP chart dating back to 2014. According to the chart, XRP has consistently experienced significant breakouts following golden crosses. The first occurrence in November 2017 resulted in a 700% price increase, followed by a 64% correction.
Subsequently, XRP surged to an all-time high of $3.31 in January 2018, marking a remarkable 650x appreciation. The second golden cross in late 2020 led to a 40% correction, but XRP later soared by 1,000% to $1.9669 in April 2021. The historical data suggests that XRP’s price movements, coupled with golden crosses, have historically signaled substantial rallies.
XRP Price Prediction
After a gap of more than two years, XRP has recently experienced another golden cross, according to crypto analyst JD. The confirmation of this crossover has sparked anticipation among bulls, awaiting the necessary strength to propel a new breakout in XRP’s price.
JD’s analysis, presented on social media platform X (formerly Twitter), highlights that XRP has been trading beneath a multi-year downward trendline, reminiscent of the scenario observed in 2017. However, this prolonged downtrend has persisted since January 2018. JD envisions XRP breaking above this trendline in the forthcoming upward price movement.
While specific price targets were not provided, JD’s chart projections suggest a potential rally surpassing the $14 threshold. Presently, XRP is valued at $0.6479, with a 13.85% decrease in trading volume to $1,764,601,394 over the past 24 hours. Achieving a price of $14 from the current level would necessitate a substantial 2,060% rally. The renewed golden cross has ignited optimism for XRP’s future performance in the crypto market.
Moreover, Egrag Crypto, a notable personality in the cryptocurrency community, has made a bold prediction for Ripple (XRP), foreseeing a substantial surge. The forecast sets a target of $10 for XRP by April 2024, marking an ambitious projection given the current price of Ripple, which stands at $0.60.
Ripple to Release 20 Million XRP
While everyone has been giving bullish price predictions for Bitcoin, investors should maintain caution as Ripple is all set to release a massive amount of XRP this month.
Ripple adhered to its customary monthly release of 1 billion XRP tokens in December, a key element of its market strategy. However, this month came with a unique twist – Ripple retained 200 million tokens, carrying a substantial value of $130 million. Far from an ordinary transaction, this deliberate action reflects Ripple’s strategic maneuvering to manage market liquidity and fulfill investor anticipations
https://twitter.com/DROPZXRP/status/1732834244710326585
