XRP has been making headlines recently with a staggering 80% surge in its price. Once dismissed by many outside its dedicated fan base, the veteran cryptocurrency has defied expectations, reaching $1.265—the highest price in three years.
This dramatic price action has been fueled by growing interest in XRP, bolstered by regulatory developments in the U.S. and a renewed spotlight on the token. Notably, XRP has broken free from a triangle accumulation pattern that persisted since 2018, paving the way for what could be its most significant breakout in history.
Although XRP has already made impressive gains, the rally may be far from over. A healthy 20% correction to $1 has reinforced the token's upward trajectory, with strong buyer interest emerging at this level. Adding to the bullish sentiment, a "golden cross" is forming on XRP’s weekly chart—a rare and powerful technical pattern.
This pattern occurs when the 50-day moving average crosses above the 200-day moving average, signaling the potential for further rallies. The fact that this golden cross is appearing on a weekly chart makes it particularly noteworthy, as XRP’s long trading history adds credibility to the signal.
However, caution is warranted. While a golden cross often signals upward momentum, it can also mark the end of a rally, as seen in April 2021. Despite this, during the last golden cross event, XRP still achieved a 350% rise, peaking at $1.97. The next few weeks could be pivotal for XRP's trajectory.