A golden cross was experienced by XRP, which became the strongest fuel imaginable for the asset. A technical pattern that indicates potential upward momentum for an asset is when the 50-day moving average crosses above the 200-day moving average. This pattern is frequently considered one of the strongest bullish indicators.
The price levels of XRP that we are currently seeing have been largely facilitated by this golden cross. What everyone is really curious to know, though, is if XRP will be able to hang onto this golden cross or if it is about to lose it. The main issue is the correlation between XRP and its 26-day Exponential Moving Average (EMA).
XRP/USDT Chart by TradingView
The 26 EMA has been an important support level, and XRP recently bounced off it. But if XRP is unable to hold onto this support, the golden cross may weaken and the optimistic outlook that has been fueling the asset's recent performance may be dispelled. The good news is that XRP's situation is currently appearing to be rather stable.
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The reversal from the 26 EMA indicates that buyers are intervening to sustain the price sustaining the asset above this crucial level. The golden cross should continue to support XRP, keeping it moving higher as long as it remains above the 26 EMA. Furthermore, the general market perception of XRP appears to be favorable.
The Relative Strength Index (RSI) is still within a healthy range, and volume indicators are staying stable, suggesting that the market is not overbought. XRP's chances of losing its golden cross in the near future are further diminished by this general stability.
