The post XRP Flashes Bullish Signal After 200 Days, Price Targets $3.33 appeared first on Coinpedia Fintech News
The XRP price has flashed a powerful bullish signal after 200 days, and this could be the start of the much-awaited bullish rally. With fresh momentum building, analysts are eyeing a surge toward $3.33 in the short term, with even higher targets going further.
Analyst Targets $3.33 Short Term
Analyst Dark Defender, in his latest analysis, has observed that XRP has flashed a rare Golden Cross signal on the weekly RSI. This could launch XRP toward $3.33 soon, with a higher target set at $5.85. These targets are part of a bigger bullish trend that is expected to unfold soon.
As Bitcoin continues to make new all-time highs, Investor Paul Barron believes that the rising wave could lift XRP as well, which could target $4 next.
XRP Forms First Golden Cross vs. Bitcoin in 4 Years
XRP recently formed a golden cross against Bitcoin on the weekly chart for the first time in four years. This happens when the 50-week moving average crosses above the 200-week moving average, which hints at a possible bull run against XRP after staying flat for four years.
XRP is building pressure for a big move, followed by a sharp breakout in either direction. With RSI near 60, it has plenty of room for upside movements. On the upside, its targets include $2.68, $2.95, and $3.39, with $3.87. But if it loses support at $2.30, then it could slide back to $2.26 or $2.10, losing its long-term support zone.
Bullish Technical Indicators with Some Mixed Signals
XRP’s technical indicators show mixed signals but are mostly positive. MACD shows some selling pressure while the RSI is neutral at 58. Major moving averages from 10-200 periods show strong buy momentum and an overall bullish trend. It is currently trading at $2.47, up over 2% in the past day.
Recent reports from Messari point that XRP is showing strong growth, with its market cap up 2% this quarter, while BTC, ETH, and SOL dropped 22%. Year-over-year, XRP’s market cap climbed by 252%. Network activity is booming too, as daily active addresses jumped 142% and new addresses rose 210% compared to last year.