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The price of XRP is awaiting a Golden Cross with a volume of 3 billion dollars.
In the past two days, the price of XRP has maintained a trading level above 2.20 USD, with the trading volume rising 14% in the last 24 hours, reaching 3 billion USD. This strong increase in trading activity has highlighted some important technical indicators, suggesting that this could be a decisive moment.
A potential "golden cross" signal on the (EMA) exponential moving averages suggests sustainable growth momentum, although key support levels remain essential to ensure the next trajectory.
RSI Index of XRP: Ideal Range and Potential to Go Further?
The RSI index of XRP is currently at 61.6. Over the past two days, this index has continuously fluctuated between 55 and 70. This indicates that the momentum of XRP is in a neutral range, reflecting a balance between buying and selling pressure, rather than falling into overbought or oversold conditions.
! XRP price awaits a Golden Cross amid $3 billion volumeXRP's RSI | Source: TradingView. The RSI is a dynamic oscillator, used by technical analysts to measure the speed and change of price movements. The index ranges from 0 to 100, and traders often consider an asset to be "overbought" when the RSI crosses the 70 level, which may suggest that the price may be at an unsustainable level and a correction is likely to occur. Conversely, an RSI below 30 indicates an "oversold" condition, implying that the asset may be undervalued and ready for a rebound.
With an RSI of 61.6, XRP shows moderate growth momentum, not yet reaching the overbought zone. This opens up the possibility for further price increases before a correction may occur.
Is a strong trend forming?
The Ichimoku cloud chart of XRP shows a positive picture. The price candles are currently positioned above the red and green lines, reflecting an overall upward trend.
The red line, also known as Tenkan-sen, and the blue line, Kijun-sen, both indicate a bullish arrangement. This means that Tenkan-sen, with its faster moving speed, is above Kijun-sen, which usually signals positive momentum in the short to medium term.
The thickness and direction of the cloud also provide information about the strength and future trend of the market, with a thick and rising green cloud typically indicating strong support for an upward trend.
XRP heads towards Golden Cross: The possibility of a breakout towards $2.65
The EMA lines of XRP are showing a notable development: the potential formation of a new golden cross in the near future. If this bullish signal appears, XRP may test and break the resistance level at 2.35 USD.
A strong rising trend after a breakout could push the price higher, with the potential to reach 2.47 USD, and even 2.65 USD if the growth momentum is maintained.
! XRP price is waiting for a Golden Cross amidst a volume of $3 billionXRP Price Analysis | Source: TradingView. In contrast, XRP is facing a critical support level at $2.26. If this support level does not hold, XRP could experience a significant decline, with the possibility of the price dropping to $2.05.
Mr. Giáo