Surprisingly, XRP isn’t the first to print a golden cross this year, Bitcoin, Cardano, and EOS had formed golden cross earlier this year. Bitcoin’s golden cross formation was followed by a massive 180% surge.
XRP’s golden cross is appearing for the first time in months which makes it quite significant.
XRP had performed below expectations in the past few days as it flunked by nearly 23% in comparison to Bitcoin which only shed 9%. Despite the asset’s dismal performance which was accompanied by fears of a long term weakness, traders are however looking at the brighter side of events as the crypto asset printed a golden cross on the daily chart of its USD pair.
Despite the losses it recorded on February 15, when it plunged from the yearly highs of $0.3463, XRP/USD holds firm above the moving averages.
A traditional indicator well known as the IchiEMA formed a green candle on its XRP weekly chart. The indicator which predicted its rise in 2017 by 1000% within a month range is flashing green again. During the 2017 event, the indicator had printed the green signal two weeks before, which saw the crypto-asset climb from $0.20 to above $3.00.
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