Rally

Bitcoin

<p class="p2">The XRP price is still underperforming the general crypto market raising concerns among holders. However, it is not all bad for the cryptocurrency which boasts of one of the strongest communities in the sector. As for its price, the optimism toward a recovery remains high as <a href="https://bitcoinist.com/when-xrp-price-will-reach-10000/" rel="nofollow">crypto analyst</a> JD has given a rather bullish prediction for the altcoin’s price.</p> 
<h2 class="p2" id="xrp-price-confirms-golden-cross-fo-1000-rally">XRP Price Confirms Golden Cross Fo 1000% Rally</h2> 
<p class="p2">In his latest <a href="https://x.com/jaydee_757/status/1732811427944276446?s=20" rel="nofollow">analysis</a> of the XRP price, crypto analyst JD has pointed out a bullish formation that could bode <a href="https://bitcoinist.com/can-xrp-price-reach-50-crypto-analyst-predicts-massive-move/" rel="nofollow">very good news for the altcoin</a>. According to him, the cryptocurrency has confirmed a rare Golden Cross on its 4-day chart, and historical performance points to an at least 700% increase following this.</p> 
<p class="p2">JD’s chart shows what happened the last two times that the <a href="https://bitcoinist.com/xrp-best-top-10-crypto-november/" rel="nofollow">XRP price confirmed such a Golden Cross</a>. The first was back in 2017 when the asset’s price completed the Golden Cross after a four-year trendline breakout. Following this, the XRP price would go on to rise 700% in short succession.</p> 
<p class="p2">The next time that the Golden Cross appeared on the chart was back in 2020 just as the bull market was starting. This time around, there was a <a href="https://bitcoinist.com/xrp-xlm-at-6-5-analys-prediction/" rel="nofollow">1000% surge in the XRP price</a> after this pattern was confirmed, mounting an even bigger rally than the previous occurrence.</p> 
<p class="p2">If the XRP price sticks to this <a href="https://bitcoinist.com/xrp-best-top-10-crypto-november/" rel="nofollow">historical performance</a>, then there could be an 800% increase, on average, for the price of the coin. However, if it also follows the trend of the most recent surge being higher than the last, the token could be looking at a more than 1000% increase, which would put its price above $6.</p> 
<p><img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/OKQsr1vH/" alt="XRP price chart from Tradingview.com" width="2650" height="1530"></p> 
<h2 class="p2" id="beware-the-pullback-before-the-rally">Beware The Pullback Before The Rally</h2> 
<p class="p2">While JD’s analysis paints an incredibly <a href="https://bitcoinist.com/xrp-price-cross-10000/" rel="nofollow">bullish picture for the XRP price</a>, the analyst also warns of a pullback in the price before the rally. Both times that the Golden Cross has appeared, the token’s price has seen a pullback before confirming the breakout.</p> 
<p class="p2">In 2017, there was a 64% price correction before the 700% surge. Then again in 2020 when the Golden Cross appeared, there was a 40% price correction before the price rallied 1000%. So it stands to reason that there will be a pullback this time around before a rally begins.</p> 
<p class="p2">Currently, XRP bulls seem to be waking up once again <a href="https://bitcoinist.com/crypto-expert-xrp-price-suppressed/" rel="nofollow">after a brief period of consolidation</a>. The price broke out above $0.64 on Thursday, and the bullish trend is expected to continue as Bitcoin and the crypto market recovers.</p>

XRP Price To Go Parabolic? Crypto Analyst Confirms 1000% Golden Cross Has Returned

Table of Contents

NewsBTC

Other articles published on Dec 8, 2023

VanEck’s 2024 Bitcoin And Crypto Blueprint: 15 Predictions You Can’t Miss

OpenSea on back-footing as OKX surpasses it in NFT trading volume

Crypto Market’s Most Overbought Altcoins Revealed

Shibarium Hard Fork: SHIB Price Poised for Massive Rally, $0.01 in Sight?

Starknet, One of the Most Anticipated Airdrops, Has Revealed Details: 1.8 Billion STARK Tokens Wi...

Elon Musk misquotes Bitcoin self-custody mantra

Join our free newsletter for daily crypto updates!