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Data Indicates XRP Can Pump 900% to $5.5 Upon Bullish Golden Cross

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Data Indicates XRP Can Pump 900% to $5.5 Upon Bullish Golden Cross

The XRP price could be on the verge of an impressive 900% pump to clinch the $5.5 territory following the formation of a golden cross, historical data suggests.

Market analyst EGRAG called attention to this phenomenon in one of his latest analyses of XRP price. The skilled chartist emphasized that leveraging historical data is essential in trying to determine the future movements of an asset.

Building on this premise, the analyst utilized a 2-week XRP chart to pinpoint XRP’s shortest and most minimal price rallies observed in the past after the 21 Exponential Moving Average (EMA) secured a cross above the 55 Moving Average (MA).

This sort of crossover is called a golden cross, occurring when a shorter moving average moves above a longer moving average. It indicates that recent prices are increasing at a faster rate than older prices, reflecting a shift in market momentum from bearish to bullish.

Historical Data

Market participants regard this as a sign of strengthening market conditions and increasing buyer interest. Historical data confirms that this pattern has often led to impressive price surges for XRP, but EGRAG’s recent analysis only factors in the smallest rallies.

#XRP Guaranteed 6X to 10X! 👊🤝

Historical data serves as the blueprint for future movements.

Let’s dive into the minimum and shortest pumps observed when the 21 EMA crosses the 55 MA on 2W TF.

1) Green: 900% –> $5.5
2) Blue: 585% –> to $4#XRPArmy GET READY! 🚀🚀🚀🚀🚀🚀🚀

— EGRAG CRYPTO (@egragcrypto) March 28, 2024

For instance, the 21 EMA crossed above the 55 MA in the first quarter of 2017, leading to a shift in market conditions from bearish to bullish. Following the crossover, XRP first recorded a 902% price rally before eventually pumping at a higher appreciation rate to hit the $3.31 ATH in January 2018.

After XRP corrected from the $3.31 ATH, the 21 EMA crossed below the 55 MA, signaling that momentum had changed from bullish to bearish. This resulted in a massive retracement that saw XRP slump to a low of $0.1009 in March 2020.

However, the 21 EMA moved above the 55 MA again in March 2021. This crossover led to another price pump as buyers entered the market. Data from EGRAG’s chart shows that XRP surged 584% to the $1.96 high in April 2021 before correcting in the months that followed.

XRP Price Targets 900% Rise to $5.5

Interestingly, the golden cross has occurred again for the third time, leading to projections of another price pump. EGRAG sets up two possible price trajectories, one resulting in a 585% rally to $4 and another culminating in a 900% pump to $5.5.

Each of these paths would take XRP to a new all-time high. However, when asked how certain he is of this upcoming pump, EGRAG stressed that it would be bearish for XRP not to clinch a new ATH soon or reach $5 to $10. According to him, if it fails to do so, investors might have to wait for the next bull run.

With the XRP price only up 5.80% over the last 30 days, some pundits have advised investors to sell off their holdings and move to other assets or miss the ongoing bull run. However, others remain confident. For instance, EGRAG is confident XRP could hit double digits this cycle.

Meanwhile, XRP currently trades for $0.6207, requiring a 433% increase to surpass its previous ATH. XRP has been trading flat over the last three months. Despite the underperformance, Altcoin Daily sees it potentially increasing 100,000% in this bull run.