XRP has flashed a critical technical signal that previously triggered a massive 600% price surge, suggesting another potential rally could be on the horizon. Recent technical analysis indicates strong bullish momentum as the token tests key resistance levels.
Weekly RSI Golden Cross Returns After 200-Day Absence
According to prominent crypto analyst Dark Defender, XRP’s weekly RSI indicator has produced a rare Golden Cross pattern – the same technical formation that preceded the token’s explosive 600% rally in November 2024. This development coincides with XRP breaking above a major weekly resistance trendline at $2.59, forming a bullish pin bar candlestick that reinforces the positive outlook.
Key Price Targets: $3.33 and $5.85 in Focus
The analysis outlines two critical price objectives for XRP:
- Primary target: $3.33 (43% potential upside)
- Secondary target: $5.85 (150% potential upside)
These targets are supported by multiple technical factors:
- Weekly RSI Golden Cross confirmation
- Breakout above major resistance trendline
- Elliott Wave structure entering Wave III (typically the strongest wave)
- 261.8% Fibonacci extension level at $5.85
Elliott Wave Analysis Points to Extended Rally
The current Elliott Wave structure suggests XRP is entering Wave III, historically the most powerful phase of a bullish cycle. This technical pattern, combined with growing institutional interest in XRP futures, could provide the momentum needed for sustained price appreciation.
Frequently Asked Questions
What caused XRP’s previous 600% rally?
The November 2024 rally was triggered by a combination of the weekly RSI Golden Cross, positive market sentiment, and increased institutional adoption.
How reliable is the Golden Cross signal?
While past performance doesn’t guarantee future results, the weekly RSI Golden Cross has historically been a strong indicator of sustained bullish momentum for XRP.
What could prevent XRP from reaching these targets?
Key risks include overall market conditions, regulatory developments, and potential technical resistance levels at $2.59 and $3.33.
At time of writing, XRP trades at $2.34, showing strong momentum after recently testing the $2.47 level. Traders should monitor key support and resistance levels while maintaining appropriate risk management strategies.
