XRP Jumps as Bullish ‘Golden Cross’ Pattern Appears in Price Chart
XRP, the digital token used in Ripple Labs’ payments network, was outperforming bitcoin and other major cryptocurrencies on Tuesday, with a longer-duration technical indicator flashing a bullish signal.
The token’s price was around 48 cents at press time, up 9% on a 24-hour basis, based on CoinDesk 20 data. Other prominent cryptocurrencies such as bitcoin, ether, chainlink and litecoin were nursing moderate losses.
XRP’s 50-week moving average crossed above the 100-week moving average (MA) earlier this month, confirming a pattern known in price charts as a “golden crossover” – a long-term bullish indicator.
Traders and chart-reading analysts often see the golden cross as a sign of a definitive uptrend. As such, the latest cross may attract stronger buying pressure from trend-following traders, leading to continued price gains.
XRP’s weekly chart shows major resistance at 80 cents. The area has capped gains multiple times since September 2018.
Recommended News
-
Galaxy’s Institutional Ethereum Funds Raise $32M at Launch – From a Select Few
Galaxy Digital’s institutional-grade ether (ETH) funds have raised over $32 million since their February launch, according to documents filed Friday with the U.S. Securities and Exchange Commission. Early returns – for an “onshore” $22 million fund and its Cayman-domiciled $10 million sibling – reveal a small but deep-pocketed clientele participated in the twin funds’ earliest days. Just five total investors have joined the funds since Galaxy unveiled them in late January. The funds debuted as ETH settled in the $1,500 range, well below highs set February when the native asset of the world computer…
03/07/2021 -
Windmill: Creating a Solid and Safe “Mining Ark” in the Rapidly Changing Crypto World
The crypto world has come to a new age of rapid growth. Bitcoin has became the world’s 6th asset, with its market value surpassing Tesla, according to a report by ResearchAndMarkets. The market scale of the global cryptocurrency market was approximately USD 979.5 million in 2020, and is expected to reach USD 1.4 billion after adjustment in 2027; the compound annual growth from 2020 to 2027 can reach 4.8%. Despite many policy constraints , in terms of the perspectives from governments around the world towards cryptocurrency, the crypto industry has…
Uncategorized 11/24/2021 -
CoinW Labs Empowers the Growth of Outstanding Web3 Projects at the 2nd Tokyo Summer Hackathon
In collaboration with Cryptogram Venture (CGV), Keio University, MetaFocus, and TEAMZ, CoinW Labs concluded the first roadshow of the highly anticipated 2nd Tokyo Web3 Spring Hackathon (TWSH) on May 17th. CoinW Labs joined forces with prominent Web3 experts from around the globe to unearth promising projects and foster the accelerated growth of high-quality Web3 ventures. The second edition of TWSH was strategically positioned as “Based in Japan, looking at the world,” aiming to identify, support, and nurture exceptional individuals and teams in the Web3 domain on an international…
Uncategorized 05/22/2023 -
Crypto money manager Bitwise has liquidated $9.3 million worth of XRP in its crypto index fund.
The firm acted shortly after the U.S. Securities and Exchange Commission (SEC) sued the token’s alleged creator, Ripple Labs Inc., for conducting an unregistered and ongoing securities offering. “Prior to the sale of the asset on December 22, 2020, XRP (-20.72%) was approximately 3.8% of the Fund,” the firm wrote. “The Fund liquidated its position and reinvested the proceeds in other portfolio assets.” Subscribe to First Mover, our daily newsletter about markets. SUBSCRIBE By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. The Bitwise 10 Crypto Index Fund…
12/24/2020 -
The mysterious ultimate move in the crypto world? hfrog reveals the magic of Meme in creating wealth!
Memes, as information units for communication, communication and cultural transmission between people, have been closely connected with cryptoculture in the past ten years. Back in 2014, the first Meme coin was born on the soil of Bitcoin in a relaxed and humorous way, marking the rise of this new currency. In the bull market of 2021, the total market value of Meme coins has reached an astonishing US$75 billion. Recently, the Meme coin market has experienced explosive growth around the world. For example, the United Arab Emirates, as the shining…
Uncategorized 04/20/2024 -
Mobius Digital Token Game Wallet-Practicing Robert Kiyosaki’s Road to Financial Freedom
“Once you understand how money works, and know the various opportunities you can have in the future, you can start living the life of your dreams.” In 2021, information becomes more and more valuable. Some people can get rich overnight just by managing money. This is knowing how to invest. How to study the movement of money? How to make money work for yourself, and have the investment mind, these are not learned in daily life. Robert Kiyosaki, the world’s top financial and business educator, wrote the “Rich Dad, Poor…
01/16/2021 -
Ethereum’s ‘EIP 1559’ Fee Market Overhaul Greenlit for July
One of the most significant and contentious alterations to the Ethereum blockchain in recent memory is now scheduled for inclusion into its codebase. Ethereum Improvement Proposal (EIP) 1559 will be packaged with the London hard fork this coming July regardless of the mining industry’s discontent with the proposal, according to the All Core Developers call Friday. At least five other EIPs are likely to join EIP 1559 in London. EIP 1559 flips a typical blockchain transaction on its head in order to fix numerous issues with Ethereum’s user experience. Traditionally, a user sends a gas…
Business 03/07/2021 -
AI Store: Leading the New Wave of AI Tool Services
Recently, the first AI tool service company in the Chinese-speaking region has officially announced its establishment, marking the further popularization and application of AI technology in the commercial field. The AI store, with its original products and excellent team members, has attracted much attention and will provide users with various AI tool services, helping individuals and enterprises flourish in the digital age. Originality Leading the New Trend As the country’s first company focused on AI tool services, the AI store upholds the spirit of innovation, bringing a brand-new business experience…
03/12/2024 -
TTI LABS will soon be launched on the Firecoin eco-chain with unlimited potential
In the history of human development, innovation is eternal. Behind them, there must be the cooperation and integration of countless people’s ideas. In December, 20 years ago, the official announcement was made on the Firecoin global website, to help developers build decentralized applications flexibly and efficiently, Firecoin announced the official launch of the Huobi ECO Chain (“Heco” for short). With the market value of Bitcoin surpassing $1 trillion, many institutions and ecosystems are running to enter, and various tracks are still starting a war that cannot be seen. TTI LABS,…
02/26/2021 -
Comes out the OVE life and health chain, finds out the mystery of gene code
Blockchain, a wave sweeping the Internet and the world economy, is bringing revolutionary changes to different industries. At this moment, constant changes also have happened in medical and health care. Genomics, a major technological breakthrough in medical technology, successfully improves the understanding and treatment of up to 7000 rare diseases, including cancer and other complex and chronic diseases. When combining blockchain with genomics perfectly, a revolutionary medical genome ecosystem will be formed. All in all, creating a new era of medical health also provides a first-class proposition driven by the…
Uncategorized 01/08/2021