Ripple or XRP, the third largest altcoin in the world is all set to take a massive upswing in its value. Similar to Bitcoin, the price of XRP has been increasing a lot for some days. The altcoin has now entered its Golden Cross.
Crypto enthusiasts have marketed this achievement as a “bull run.” The price of Bitcoin back on April 24th was $5,500, and within the span of a month, its price is $8,500. A massive hike is considered as Golden Cross if the price of a coin has reached its best point in 50 days and overtakes its moving average of 200 days. It means the price of the coin in the past 50 days must be more than its price in 200 days.
XRP has already surpassed its 200-day moving average within 50 days and is now very close to acquiring the Golden Cross.
Bitcoin went all bullish back in April while XRP was struggling back then. Although the upswing of BTC had a positive effect, XRP wasn’t that good back then. After some days for Bitcoin upswing, XRP faced its Death Cross. The Death Cross refers to a situation where the 50 days moving average is low when compared to the 200-day moving average.
XRP failed miserably back then. But later the coin made a huge impact on the market because of its performance. XRP trailed in performance and made it big this year. The coin is trading at a high range, and analysts are saying that it will reach its best value.
This is the first time XRP noticed green upward facing candlesticks.