XRP Rally Gains Momentum with Golden Cross and Fibonacci Targets

• XRP flips key resistance into support, setting the stage for potential rallies toward $4 and $8 in the coming months.
• A Golden Cross and Fibonacci extension signal continued bullish momentum for XRP, with analysts targeting $4.32.
• XRP’s breakout above key resistance levels and Ichimoku Cloud indicates a strong upward trend with minimal resistance.

XRP’s price has moved turning earlier resistance into support and laying the groundwork for a possible rise. XRP staged a breakthrough after settling into a descending triangle pattern between 2013 and the beginning of 2017. 

With XRP breaching its resistance once more, this pattern has recurred, providing hope for the future. XRP hit fresh highs after the last breakout, and technical signs indicate that the cryptocurrency may soon get close to $4.00 or perhaps $8.00.

Breaking Resistance: A Sign of Bullish Momentum

XRP’s price action is showing strong signs of upward momentum. The recent chart demonstrates that XRP has broken above key resistance levels, signaling a shift toward bullish behavior. This breakout above the descending triangle’s upper trendline follows a pattern seen in 2017. XRP has now flipped this previous resistance into new support, setting the stage for another rally. Analysts are projecting that XRP could surge to $4.00, and potentially $8.00 in the higher timeframe.

Moreover, the recent rally comes after a “Golden Cross,” a bullish signal where the short-term moving average crosses above the long-term moving average. This pattern suggests a reversal from bearish to bullish momentum. Hence, the market is gearing up for further bullish movement as XRP gains strength. In addition, the Ichimoku Cloud analysis shows that the price is above the cloud, indicating minimal resistance. This technical shift increases the likelihood of sustained upward momentum.

Fibonacci Extension and Future Price Targets

To further solidify the bullish outlook, the Fibonacci extension set a target of $4.32. This target represents a 100% extension, which many analysts consider a reliable price point based on past market behavior. The current price of XRP, hovering above $2.60, suggests steady progress toward this goal. With reduced resistance between the current price and the target, XRP’s bullish momentum could continue.