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
-
CGS brand upgraded to CGL to create web3 gamefi traffic portal
With the rapid growth of the web3 market, CGS has begun to accelerate the globalization. As the gamefi market has been recognized in recent years, the audience of CGS is gradually moving from gamefi enthusiasts to the entire web3 crowd. As the blockchain is gradually recognized by the public, CGS will face new opportunities and challenges. So CGS (Crypto Gladiator Shards) brand upgrade was renamed CGL (Crypto Gladiator League), which will grow from the original single game ecosystem to a game platform and become the game traffic portal of the…
-
Coinbetter: The UST death spiral is approaching, where is the future of algorithmic stablecoins?
On May 10, Bitcoin accelerated its downward trend, falling below $30,000 at one point, and the lowest dropped to $29,767, a new low since July 19, 2021. As of writing, the price has rebounded, and the current price is $31,486.43. In addition to the market, the algorithmic stable currency UST has won the attention of the market. On May 10, UST was seriously de-anchored and once fell to 0.6090 USDT; according to the Coinbetter data, it is now reported at 0.7968 USDT, with a 24H decline of 12.2%….
-
Double Ace launches crypto super-wallet that pays up to 14% APY on assets
Double Ace (DAA) is a Fintech company that utilises the power of blockchain, AI, and Big Data to provide instant online financial services to individuals. The service DAA provides encompasses consumer finance, personal credit, micro loan, crypto loan, and more. DAA has introduced its all-in-one super App called Ace Wallet, which allows users to deposit cryptocurrencies to receive interest much like that of bank deposits, but with a way higher interest rate. DAA is able to provide its depositors with cryptocurrency interest due to their arbitrage trading desk, which is…
-
Koala Arithmetic Mining Platform welcomes major changes: a new system upgrade to create cloud computing power mining
Koala Arithmetic Mining Platform is an innovative global blockchain mining financial service platform whose purpose is to redefine the mining machine industry ecology based on blockchain mining. At present, the ecological sector includes: mining machine trading, mining machine leasing, mining pool services, cloud computing power trading, etc. KOALA is the only circulation medium of the Koala Arithmetic Mining Platform. Users can use KOALA to directly obtain computing power and use it to pay for electricity bills, custody fees, service fees, etc., thereby redefining the value of the mining industry and…
-
Delivering on the Next Standard for Blockchain
Fallout from the Collapse of Centralized Exchange FTX In early November 2022, FTX, the world’s second-largest exchange for cryptocurrencies and digital assets, was valued above US$30 billion. On 14th November 2022, FTX, along with 130 other affiliated companies founded by CEO Sam Bankman-Fried, filed for bankruptcy. The dramatic and messy collapse of FTX sent shockwaves around the entire industry. Reports and rumours are now flowing in with details of mismanagement and abuse perpetuated by those at the top. According to CNBC, Bankman-Fried spent ‘substantial amounts of money’ on luxury unrelated…
-
GoldenPyrex Ushers in the Next Era in DeFi with a Robust Ecosystem
Bitcoin Press Release: Golden Pyrex (GPYX) announce details of their DeFi platform enabling yield farming, gaming, and NFTs. 17th December, 2020, Nur-Sultan, Kazakhstan – Despite the exponential growth of the DeFi market throughout 2020, the industry is now dealing with a short-term plateau, as the market matures and projects are put to the test. Indeed, innovative use cases like governance, yield farming, and non-fungible tokens (NFTs) will play an essential role in the future’s economy, but not all of them will survive. GoldenPyrex Is Building a Sustainable and Independent Token Ecosystem A key…
-
OEC (OKEXChain)’s first NFT asset aggregation platform Dematrix will be launched on the mainnet soon
The official opening of the third phase of OKEXChain has opened a new era of DeFi ecology, which is good news for everyone in the blockchain world. OKExChain is the world’s first transaction chain-a blockchain technology infrastructure built for transactions. Through the development of “blockchain middleware” and operational support for transaction scenarios, it reduces the development costs of application developers and improves users’ Trading experience. As an open public chain ecology, anyone can campaign to become an OKExChain super node, or they can issue their own digital assets, create their…
-
Aptos comes out of nowhere, a new story for public chains in 2022?
Looking at this bullish round of public chain rotation outbreak, the public chain landscape is not yet a foregone conclusion, despite ETH’s first-mover advantage. For example, Solana, which is light on technology and heavy on ecology, uses measures such as introducing liquidity mining, providing subsidies for developers, holding hackathon and providing donation funds to incentivize users to experience their platform, while Polygon, Fantom, Harmony, Avalanche, Celo and NEAR, on the other hand, have taken a different approach and launched incentive programs one after another thus promoting their ecological prosperity. Whether…
-
From”Poor Dad, Rich Dad” to Mobius Wallet, Robert Kiyosakicreates a cash flow game that ordinary people can participate in!
On December 13, Robert Kiyosaki, the author of “Poor Dad and RichDad”, tweeted that fortunately, I bought Bitcoin. Its next stopis $50,000. Institutional funds will continue to be purchased in2021. If you missed Bitcoin, buy silver. As a result of AOC’s GreenNew Deal, silver will also rise. For gold, silver, Bitcoin andentrepreneurs, the future is bright. As awell-known figure in the field of economics, Robert Kiyosaki’s bookssuch as “Cash Flow Game”, “Poor Dad and Rich Dad”,”The Road to Financial Freedom” are sold worldwide. “PoorDad, Rich Dad” was published in the…
-
CLOWN TOKEN strike with overwhelming power！
CLOWN Token is created by several game enthusiasts in Singapore and South Korea, combining the rules of DEFI and using the characteristics of ERC-20. It mainly solves the simple technical applications of point-to-point substitution, offset and guarantee in the game field of DEFI world. Because the initial application is mainly docking chess and card casual games, his name uses the head of the big ghost of poker. CLOWN Token 110 W in total It is divided into three parts: 1. Leisure chess and cards 40w 2. Professional chess and cards…
