The fourth-largest digital asset, XRP, has created an unusual Golden Cross on its three-day chart, delighting cryptocurrency enthusiasts. When a short-term transferable common crosses over a longer-term one, it forms a golden cross. This occurrence, which has only happened twice before in the history of XRP, is sometimes regarded as a sign of sustained bullish market activity.
Famed XRP proponent Mack Assault (@MackAttackXRP) used Twitter to give his thoughts on this fortunate development. XRP’s value was about $0.0264 when the first Golden Cross occurred in April 2017, opening the door for an astounding 12,437% increase that resulted in an all-time high of $3.317 in January 2018.
Remember the most recent Golden Cross in March 2021, which led to a significant rally, XRP supporters. The value of XRP increased by a powerful 400% in just 56 days.
The history of XRP, which is currently hovering around 60 cents, goes back to 2017 when it was priced at less than one cent. Hopes of reaching the desired $1 threshold have been reignited by the present Golden Cross on the three-day chart.
In addition to the technical assessment, the ongoing legal dispute between XRP and the SEC also significantly influences the value trajectory of XRP. The current decision in this authorized conflict has already caused a price increase. The expectation of further developments in this lawsuit is still a factor in the price swings of XRP.
Market watchers believe that the dynamics of the legal struggle and the Golden Cross may combine to usher in a new era of significant advantages for XRP. Fans and buyers are closely monitoring these factors as XRP attempts to secure its position in the unsteady cryptocurrency landscape.