XRP is on the verge of a significant technical pattern known as the golden cross, which could herald a substantial price movement. The golden cross occurs when a longer-term moving average, such as the 200-day exponential moving average (EMA), crosses above a shorter-term moving average, like the 50-day EMA. This pattern is widely viewed by traders and investors as a strong bullish signal, suggesting that a significant price surge may be imminent for XRP.

Bullish Continuation Potential

Should the golden cross materialize, XRP could target new highs. The immediate resistance to watch is around $0.60. A successful breakout above this level could pave the way for XRP to challenge $0.65, a historically tough resistance point. If market conditions improve further, particularly with positive inflows into Ethereum (ETH) and Bitcoin (BTC) exchange-traded funds (ETFs), XRP might set its sights on even higher targets, potentially reaching $0.70 or $0.75.

XRP/USDT Chart by TradingView

Bearish Rejection Risks

Conversely, if the golden cross fails to generate the anticipated bullish momentum, XRP may struggle to maintain its current levels. The initial support level to monitor is $0.55. A drop below this level could lead to further losses, with the next support at $0.50. A decline past this point might indicate a longer-term bearish trend, especially if the overall market remains neutral or turns negative. In such a scenario, XRP could become range-bound, facing sustained downside pressure.

Market Conditions and Impact

Currently, the cryptocurrency market is in a neutral phase, with Bitcoin trading around $60,000 and a lack of strong buying or selling pressure. Positive flows into ETH and BTC ETFs suggest the potential for market-wide gains, which could influence XRP’s price action. The outcome of the golden cross will be crucial in determining XRP’s short-term trajectory, making it a key focus for investors and analysts alike.