XRP Golden Cross Drives Bullish Momentum

Since plunging to its year-to-date low of $1.61 on April 7, XRP holders have taken full advantage of the dip, ramping up accumulation efforts.

Since hitting its year-to-date low of $1.61 on April 7, XRP has seen plenty of buying activity as traders ramp up their accumulation efforts. This has steadily increased the asset’s value over the past week. At press time, it trades at a seven-day high of $2.19 and technical indicators show that it’s positioned to extend the gains.

On the daily chart, a golden cross has formed on XRP’s Moving Average Convergence Divergence (MACD) indicator, which is often viewed as a key signal of a shift toward long-term upside. The MACD indicator measures an asset’s price trends and momentum, and identifies reversal points. It forms a golden cross when its MACD line (blue) crosses above its signal line (orange).

A golden cross signals a positive shift in investor sentiment as it shows that traders are placing greater emphasis on buying over selling. When buying pressure outpaces selling activity, it can attract even more capital into the asset, driving the price up further.

This pattern emerged on April 11 for XRP, reinforcing the growing bullish sentiment surrounding the asset. It also confirms that the altcoin’s recent price rebound is not just a short-lived reaction but may mark the beginning of a more sustained uptrend.

[image: Chaikin Money Flow]

Moreover, the token’s positive Chaikin Money Flow (CMF) supports this bullish outlook. At press time, it rests above the center line and in an uptrend at 0.07.

The CMF indicator measures how money flows into and out of an asset. A positive CMF reading, as with XRP, means buying pressure is stronger than selling pressure over a given period. It suggests capital is flowing into the token, signaling accumulation and potential price growth.

After setting its 2024 low at $1.61, XRP quickly bounced back, rising more than 32 percent to hit a seven-day high of $2.19. From here, it faces a key resistance level at $2.29.

If demand soars, XRP could extend its gains and reach $2.29. A successful flip of this resistance into a support floor could propel XRP to $2.50.

However, if profit-taking resumes and selling pressure rises, XRP could reverse its uptrend and fall to $1.99. A breakdown below this level would create a bearish outlook for the token.