Rally

bullish

when

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<a href="https://u.today/xrp-secures-death-cross-on-hourly-charts-whats-xrp-price-in-for">XRP</a>, the seventh largest cryptocurrency by market capitalization, recently formed a golden cross on its short-term charts — a technical indicator that often signals the potential for a price rally. The market is watching closely to see if this development could lead to a significant upward movement in XRP's price.
A <a href="https://u.today/is-xrp-on-verge-of-another-golden-cross">golden cross</a> occurs when a short-term moving average (usually the 50-period moving average) crosses above a long-term moving average (often the 200-period moving average).
<img alt="TradingView" data-entity-type="file" data-entity-uuid="d8f411c9-356a-4436-ac28-a4dc33bf070d" src="https://u.today/sites/default/files/inline-images/23092024%200000_0.png"><a href="https://www.tradingview.com/x/KFzhlhAi/">XRP/USD 4-Hour Chart, Courtesy: TradingView</a>
In the case of XRP, the golden cross has emerged on the four-hour chart, which means that the shorter-term momentum has overtaken the long-term.
This crossover is generally interpreted as a bullish signal, suggesting that momentum is shifting in favor of buyers and that a price increase could be on the horizon.
The XRP price trended higher in the past week as the markets broadly rallied following a jumbo Fed rate cut.
<h2 id="what-s-next-for-xrp-s-price">What's next for XRP's price?</h2>
XRP began to rise after rebounding sharply from lows of $0.50 on Sept. 6. Although the rise was punctuated by minor dips, XRP remained in an upward trend, reaching a high of $0.612 on Sept. 21 before declining.
At the time of writing, XRP was down 1.18% in the last 24 hours to $0.587. As it stands, the $0.61-$0.66 range has acted as a <a href="https://u.today/xrp-secures-death-cross-on-hourly-charts-whats-xrp-price-in-for">psychological barrier</a> in recent months, and a successful breach of this level could trigger additional buying pressure, driving the price higher.
Traders are also eyeing the $0.748 mark as a critical barrier. If XRP can gather enough momentum to break past this key resistance, a significant price surge may follow, potentially taking the seventh-largest digital asset to new yearly highs.
While the golden cross is a bullish signal, it is essential to consider other factors such as overall market sentiment and broader economic trends that might significantly impact XRP's price.

XRP Forms Golden Cross: Could XRP Price Rally Be Next?

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