XRP’s Bullish Signal

XRP is poised for a technical milestone as it approaches a “golden cross” in its BTC pairing. This pattern, signaling bullish momentum, occurs when the short-term moving average crosses above the long-term moving average.

Impending Golden Cross

The 50-day SMA for XRP is gearing up to cross over the 200-day SMA soon. The convergence of both moving averages indicates an imminent golden cross, potentially leading to further price gains for XRP against Bitcoin, especially in a positive cryptocurrency market environment.

This promising development coincides with a period of altcoin rallies.

XRP’s Performance Against Bitcoin

XRP is outperforming Bitcoin in weekly and monthly gains, with a 61% increase over the week compared to Bitcoin’s 9% rise. XRP has shown impressive growth against Bitcoin since Nov. 12, hitting a peak not seen since December 2023.

Altcoin Surge

Following the announcement of SEC Chair Gary Gensler’s intention to resign, select altcoins, including XRP, experienced significant gains. XRP saw a 30% surge after Gensler’s statement, amidst its ongoing legal battle with the SEC over digital asset classification.

At present, XRP is up by 25.76% in the last 24 hours, trading at $1.42, while Bitcoin reached all-time highs at $99,543.