XRP has recently triggered a significant technical signal against Bitcoin (BTC), marking a potential shift in its long-term market trajectory. This event, known as a "golden cross," is drawing considerable attention from analysts due to its rarity and historical implications, suggesting a period of substantial growth could be on the horizon for the digital asset.
A Rare Technical Signal for XRP
For the first time since early 2017, XRP has formed a golden cross on its monthly chart against Bitcoin. This occurs when the 23-month simple moving average crosses above the 50-month simple moving average, signaling a strong bullish momentum after nearly six years of compression and underperformance. The last instance of this exact signal, over eight years ago, preceded a monumental rally where XRP surged almost 9x higher against BTC in under 120 days, even briefly surpassing Ethereum in market capitalization. The current setup is particularly robust, with XRP/BTC having firmly held key support levels for over four months, displaying a bullish engulfing candle in December, and initiating January with a notable breakout above both long-term moving averages.
Ambitious Price Targets on the Horizon
Analysts are now eyeing significant upside targets for XRP, both in Bitcoin and U.S. dollar terms. Technically, there's open air for XRP to advance to 0.00003 BTC and then to the 0.00006 BTC level, both of which represented major resistance points in the 2019-2021 cycle. Should XRP reclaim these zones and replicate even a fraction of its 2017 performance, an 875% upside scenario becomes a measurable possibility. Furthermore, if XRP reclaims the 0.00006 BTC zone, paired with Bitcoin's price ranging from $86,000 to $100,000, its value could reach between $5.16 and $6.00, nearly tripling its current level of $2.07. An even more ambitious target of returning to its 2017 XRP/BTC peak of 0.0001740 could see XRP’s dollar price soar to an impressive $14.96 to $17.40.
