XRP Produces Golden Cross on Weekly RSI Indicator After 200 Days
XRP recently peaked at $2.47 before closing lower, aligning with Bitcoin's bullish trend. Despite this retracement, analysts maintain a positive outlook for XRP due to key technical indicators.
Key Developments
- XRP produced a Golden Cross on its weekly RSI indicator, similar to the signal preceding a 600% rally in November 2024.
- The breakout above a long-standing resistance trendline occurred when XRP reached $2.59 on May 14.
- The RSI crossed above its moving average, mirroring conditions from early November 2024.
Price Targets
- First target: $3.33, near January 2025 peak.
- Second target: $5.85, corresponding to the 261.8% Fibonacci level.
- Current price of XRP is $2.34, with the $3.33 target representing a potential 43% increase and the $5.85 target a 150% gain.
