- Market participants often see the golden cross as a robust bullish indicator.
- If the price manages to break above $0.58, then it will likely re-test $0.63 level.
Crypto market was rather dull on Sunday, with minimal volumes and brief rebounds recorded by most cryptocurrencies. Bitcoin’s price is stuck in a tight range. Despite making steady progress toward the $60,000 barrier, BTC is still quite volatile.
The price of XRP remains low at $0.57, even if there has been positive court news and major wins against the SEC. However, the present price is rather decent, especially when compared to the pre-legal win level, which was approximately $0.42.
A golden cross is going to appear for XRP soon. Market participants often see this as a robust bullish indicator, suggesting that XRP’s price may experience a substantial increase in the near future.
Bullish Projections
There is the possibility of a positive continuation. Once the golden cross happens and XRP starts to move in a bullish trend, the next significant milestone to watch is around $0.60. Breaking over this level would pave the way for XRP to challenge $0.65, a substantial resistance level that has been tough to overcome in the past.
At the time of writing, XRP is trading at $0.57, up 1.1% in the last 24 hours as per data from CMC. Moreover, the trading volume is up 20.15%. The price found support at $0.44 level after the market faced a severe downward pressure on August 5. From this level, the price spiked and reached $0.63 level. However, the price faced strong resistance at this point and a correction took place.
If the price manages to break above $0.58, then it will likely re-test $0.63 level. Conversely, if the price falls below $0.55 level, then it will likely test 0.44 support level.
