U.Today - Finally, it happened: XRP printed a 50/200 golden cross against Bitcoin
In the world of technical analysis, golden crosses usually spark excitement. But when it comes to major cryptocurrency pairs, these instances are rare. Today, however, saw the 50-day exponential moving average (EMA) finally cross above the 200-day EMA in XRP / Bitcoin (BTC).
This event occurred at around 0.00002300 on the daily chart.
After reaching highs near 0.00003200 in February, XRP / BTC has been slowly decreasing and now appears to have found support around the 0.00002300 range. This golden cross forms right in the middle of that cooling-off period, not during a breakout.
Now, slipping back below these moving averages would weaken the setup and reset expectations. But assuming the price holds and volume increases, then this trend could turn in XRP’s favor. The first resistance sits around 0.00002570. Break that, and 0.00003000 could come back into play.
Unlike other technical indicators, golden crosses do not predict an outcome; they mark a moment in time. And for XRP, this is a unique occurrence. Considering that XRP has mostly trailed behind Bitcoin, this kind of a signal has not been possible until now.
What happens next will determine its outcome. Either way, the chart has made history.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
