XRP is showing strong signs of a potential breakout by forming a golden cross on its technical chart. The token's price is approaching the important resistance level at $3.
Golden Cross on XRP Chart
The formation of a golden cross, where the nine-day and 26-day moving averages intersect at the $2.82 level, signals a bullish trend ahead. Many investors are watching closely, hoping that XRP could soon reclaim the $3 mark.
Surge in Trading Volume
Recent market activity has heightened interest among traders. XRP has already seen an increase in trading volume, rising by 11.91% to $5 billion in the last 24 hours. This spike in volume suggests that more traders are positioning themselves in anticipation of a potential rally.
Key Factors Driving XRP's Surge
Several factors could push XRP's price higher in the coming days. One major catalyst is the SEC's decision regarding exchange-traded fund (ETF) applications. If approved, the ETF could significantly boost XRP's price. Ripple's attempt to obtain a banking license also contributes to the growing optimism surrounding XRP, as it would strengthen the company’s position in the market and expand XRP's utility.
The combination of technical signals and key developments points to a potential breakout for XRP. With the golden cross in play and strong market support, the coin is poised to challenge the $3 resistance level and possibly exceed it in the near future.
