XRP Price Analysis

XRP’s price chart is heating up again with multiple bullish signals.

Five days ago, the 23-day moving average broke above the 200-day moving average, forming the first golden cross. This led to a price jump from around $2.90 to over $3.50.

Currently, the 50-day moving average is approaching the 200-day moving average. A cross here would mean two consecutive golden crosses, a rare occurrence but common in bull rallies.

This surge is happening in a vibrant market as XRP has recently broken out of a prolonged consolidation phase and continues to show strength. Trading volume is rising, with green candles, and the price remains near recent highs with no substantial signs of weakness.

What’s Next?

The next target on the radar is $4.20. This level was identified as a breakout target when XRP was consolidating within a large triangle pattern, following a massive 700% increase from $0.50 to $3.50. Now, as short-term consolidation occurs, $4.20 is the next logical goal.

Some analysts, including popular trader DonAlt, are even suggesting $6.90 as a potential full-cycle target. While this might seem ambitious, the current setup aligns with such a possibility.

With a confirmed breakout, one completed golden cross, and another approaching, the chart remains strong. If XRP surpasses $4.20, this could signal a more significant upward movement rather than just a temporary spike.