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
-
The Circle of Convergence: HyperNation Officially Kicks Off a Series of Exciting Updates!
The highly anticipated community event is finally here. After days of waiting for the rumoured mega updates, HyperNation announced several new features poised to bring value-adding perks to all loyal hodlers. The event entitled ‘Circle of Convergence’ records a whooping attendance of 8,000+ unique online participants who turn up and celebrate with the community worldwide. The recent price hike of HNT to a phenomenal 139% was a prelude that cued its tokenomic fitness as the market confidence gradually picked up its momentum. Now, to further release the potential of…
Uncategorized 11/13/2022 -
Next Big Wave – Ventures DAO
Next “Big Wave” – Ventures DAO Traditional venture capital market is monopolized by big institutions. Retail investors rarely have access to all the important information. Ventures DAO provides retail investors an equal opportunity to participate in potential projects. The nature of a Ventures DAO bootstraps a loyal community as DAO members are incentivized to support portfolio projects. Top-down decision making approach is used by traditional venture capital, where decision-making process occurs at the highest level and is then communicated to the rest of the team. DAO on the other hand…
06/27/2022 -
Industry Special! CoinW Announces Free BTC Transaction Fees
“Difficult tasks are tackled from where it is easy, and great undertakings have small beginnings”. From the Tao-te Ching, chapter 63. On July 5, 2022, CoinW announced to its global users that BTC transactions fee are free. It is reported that CoinW is the first leading exchange in the world to announce free BTC transaction fee. As we all know, as the world’s most emerging industry, the fintech sector brings together the world’s best talent. And exchanges are one of the most lucrative business models in the fintech industry, and for exchanges…
07/07/2022 -
MoneyGram has yet to see any “negative impact” on its longstanding business arrangement with Ripple from the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the latter company.
“MoneyGram will continue to monitor the situation as it evolves,” a company spokesperson told CoinDesk in an emailed statement. “MoneyGram has continued to utilize its other traditional FX trading counterparties throughout the term of the agreement with Ripple.” The SEC alleged in a case filed Tuesday that Ripple used XRP (-20.47%), the cryptocurrency two of its founders created, to conduct an ongoing, $1.3 billion sale of unregistered securities. 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…
12/24/2020 -
Bitfury’s Deep Ploughing on Blockchain Mining · Coinbasis Plan Launched
Australian Bitcoin mining hardware giant Bitfury is set to expand its industry into distributed storage. FlashFX, AgriDigital and Othera will also jointly deploy the distributed storage ecological field, create the establishment and trading of distributed storage financial derivatives, and create super servers with the world’s top three server manufacturers. With the massive growth of global data. Privacy security and access speed have become the most critical issues in data storage. Bitfury and his partners plan to develop a decentralized distributed storage, data sharding and data encryption platform without downtime. Through…
Uncategorized 03/08/2021 -
$HWT Performs Admirably with a 710% Spike in the Season of Love
“Fly me to the moon, let me play among the stars”, an instant classic song from the 60s by Count Basie and Frank Sinatra. Does it automatically send a tune ringing in your heart? Well, it is only logical this Valentine’s Day to save the best to be treasured for for your loved ones, family and friends. From love letters, chocolate boxes, truffles, bouquet of flowers, candlelight dinners and more, leave a lasting memory that will last forever in the hearts of your loved one or partner. It is…
Uncategorized 02/20/2023 -
Sphere Financial Inc: Transforming the World of Finance with Ground breaking Blockchain Solutions
Sphere Financial Inc (SFI), a disruptive force in the finance industry, is revolutionizing the financial landscape with its unparalleled blockchain solutions. By empowering individuals and businesses worldwide with decentralized and all-inclusive approaches, SFI is redefining traditional finance and ushering in a new era of possibilities. Founded by visionary leaders disillusioned with exploitative banking practices, SFI is on a mission to construct a financial ecosystem that transcends borders and extends opportunities to all. The company’s comprehensive suite of blockchain solutions caters to diverse industry needs, offering innovative solutions that address…
Uncategorized 06/07/2023 -
Nature Dao, a crypto-era natural UN is on the rise
The Metaverse has brought endless imagination to the encryption industry, and it has also really promoted the development of the industry. As the natural organizational structure of blockchain participants, DAO has an unparalleled fit with the blockchain. At the end of 2021, institutionDAO launched a crowdfunding auction for the governance token people, a copy of the U.S. Constitution, which set off an industry frenzy and quickly went out of the circle; at the same time, the profile of the official Twitter @sequoia of Sequoia Capital, the world’s top venture capital…
05/17/2022 -
Genesis NFT airdrop in Europe and the US——MotorN’s love is coming!
The United States in North America is the global leader in the PC Internet Web1.0 era, and China in Asia is overtaking in the mobile Internet Web2.0 era, while the main force of the development of web3.0 is still in Europe and the United States, and Web3.0 is becoming a new field of “fighting” for the Internet giants in Europe and the United States in 2022. The next decade is the golden age of web3.0 development, instead of hesitating in the retreating web2.0, why not stride into web3.0 and find…
08/12/2022 -
Groundbreaking Entry: CoinW Becomes offiical supporter of EAFF E-1 Championship 2022
On July 14, 2022, CoinW officially announced that it is the official supporter of EAFF E-1 Championship 2022, and the first crypto venture capital in the world to officially cooperate with the East Asian Cup. While demonstrating the competitive spirit of soccer, CoinW will also leverage the tournament to solidify its presence in the East Asian and Asian market. It will also contribute to the development of blockchain in Asia and globally, by providing diversified products, quality services and innovative technologies. The East Asian Cup has gained wide influence and popularity in…
07/15/2022