History Shows XRP Golden Cross on 4-day Chart Can Take XRP Beyond $14
XRP has formed another golden cross on the 4-day timeframe, according to crypto analyst JD, who forecasts an imminent price breakout based on historical context.
Taking to X, JD presented a 4-day XRP chart detailing the price movements of crypto assets since 2014. Interestingly, data from the chart confirms that XRP has persistently followed a pattern of breakouts when its shorter moving average (MA) crosses above the longer moving average.
Often called a “golden cross,” when an asset’s shorter MA crosses above its longer MA, this pattern sends bullish signals. The crossover suggests a potential upward momentum in the market, signaling that recent price trends are favorable.
Previous Crossovers
JD’s chart reveals that based on the 4-day timeframe, XRP recorded the first cross in November 2017. Shortly after the cross, XRP saw its value rise 700%, or 7x, before facing a correction that dropped it by 64%.
However, this retracement was short-lived, as the bulls immediately mounted a comeback. XRP eventually skyrocketed further to an all-time high of $3.31 in January 2018, marking an impressive 650x appreciation, data from the chart shows.
Interestingly, XRP’s parabolic price surge in late 2017 accompanied a breakout from a multi-year downtrend. Per JD’s chart, XRP had traded underneath a 4-year trendline before the Golden Cross. After the cross, XRP broke out of the downtrend, contributing to the 650x rally.
The second time XRP witnessed the Golden Cross was in late 2020, leading to a price rally. This time, XRP faced a 40% correction shortly after the crossover. However, this correction ushered in a remarkable price increase, resulting in a 1,000% rise to $1.9669 in April 2021.
XRP Targets a Breakout
More than two years after the last crossover, XRP recently recorded another golden cross. JD disclosed that the charts have confirmed the latest cross, with the bulls now awaiting enough strength to push for another breakout.
The analyst’s chart further reveals that XRP has been trading below a multi-year downward trendline, similar to the case in 2017. However, this downtrend has persisted since January 2018. JD expects XRP to break above this trendline in the upcoming price push.
While he failed to provide a specific price target, projections from his chart suggest a rally beyond the $14 price threshold. XRP currently changes hands at $0.6479, with a 13.85% drop in volume to $1,764,601,394 over the past 24 hours. Reaching $14 from this point would require a 2,060% rally.