The third largest digital currency by market capitalization, XRP is about to enter a golden cross pattern. This is a much-coveted position. If it follows BTC’s lead, the asset class could see substantial price gains. It is expected to retest the $3.30 price position should all parameters and technical indicators stay in play.
While Bitcoin and several altcoins have done well to stay in the limelight, there’s being one major crypto that has ended up staying in the sidelines and that’s Ripple’s XRP. XRP’s YTD price increase of about 9% pales when compared to what Ethereum pulled off. Ethereum saw an 87% gain for YTD price while Litecoin saw an impressive 227% increase.
The price of Bitcoin had achieved a golden crossover at the time it reached the $5,500 position. The price was a new yearly high for the leading asset class. After that, the price of Bitcoin started its climb to its current position of $8,900. Hence, it is safe to assume that the price of XRP will follow the footsteps of BTC after forming a Golden Cross Trendline.
Ripple XRP News Today
The digital asset market has continued to maintain its position for major digital assets in recent weeks. Top coins are turning bullish once more. Bitcoin expanded its position days ago. Ethereum and Litecoin have had good sessions in the last few days. Now, XRP, the native token of Ripple which has had an uneven last few months is set to join the queue of gainers. Based on a critical analysis of the chart highlighting trading for the XRP/USD pair, it is clear that per a report from CoinDesk, XRP holders are likely going to end up having hefty bags by next month.
The XRP charts show that the price of XRP is set to form the golden cross pattern which could see it turn bullish and retest its recent high of $3.30 in the coming weeks.
XRP Price Prediction – XRP Price Forecast
XRP (XRP) Price Today – XRP / USD
In the last month, the price of XRP spiked by 27%, but it still looks underwhelming when compared to its 73% rally in September of last year when XRP overtook Ethereum’s position. XRP is set to form a Golden Cross. A Golden Cross Trendline is a major bullish indicator that pops up after the 50-day MA crosses the 200-day MA. The Golden Cross Pattern is arguably one of the most sought-after patterns. The reason for this is because it typically serves as a sure hint of a bullish takeover. Now, the price of XRP is set to retest its all-time high of $3.30 as the Golden Cross Pattern sets.
XRP Price Analysis – XRP moved to a Coinbase Pro account
According to the latest XRP news on ambcrypto; XRPL Monitor, the data aggregator for XRP, revealed in a tweet that a whopping 10.1 million XRP were moved to a Coinbase Pro account. The exact amount of 10,111,072.535 XRP was charged 20 XRP for the entire transaction.
Many users had certain queries about the transactions, with George Leithead, an XRP enthusiast asking,
“How did the balance get to 0? Isn’t there a minimum for all wallets (more for multi signature wallets)”
To this, Cale Robertson, another XRP community member replied,
“A wallet can go below the reserve if it’s the tx fee that takes it below that threshold. The account is still active in the sense other accounts can interact (i.e. send a payment to it), but it is no longer able to make txs itself until it is funded back over that reserve.”
XRP was given a boost recently after Kava Labs introduced the ‘Switch’ for non-custodial trading of Bitcoin and XRP. The company had elucidated that Switch dodges the traditional DEX by employing streaming micropayments. Kava Labs further added that streaming micropayments will work by moving little bits of value, piece-by-piece, until the entire payment or trade is complete.