FatPipe's 15min chart triggers bullish signal with KDJ Golden Cross, Bullish Marubozu.

Based on FatPipe's 15-minute chart, a Golden Cross has occurred in the KDJ indicator, accompanied by a Bullish Marubozu formation on May 2nd, 2023, at 12:30. This suggests a shift in momentum towards the upside, with potential for further price appreciation. The dominance of buyers in the market indicates a continued bullish trend.

After months of sideways price action, XRP (XRP) has shown signs of renewed momentum, with a potential mini-golden cross forming and several bullish indicators suggesting a shift in market sentiment. The cryptocurrency has successfully broken above its descending wedge pattern, which has been stifling price action since February. As of the latest data, XRP is trading at approximately $2.28 and above its main moving averages, including the 200 EMA, 100 EMA, and 50 EMA [1].

A classic mini-golden cross is about to be formed as the 50 EMA approaches, crossing above the 100 EMA. This cross is not as well-known as the 50/200 EMA golden cross but is still a reliable medium-term bullish signal, particularly for fast-moving altcoins like XRP. Historically, XRP has lagged behind Bitcoin and Ethereum in the early stages of rallies but often catches up in a parabolic fashion.

Key levels to monitor include $2.30, immediate resistance, and $2.50, the next structural and psychological barrier. A breakout above $2.50 would open up the $3.00 zone, where XRP has historically experienced high volume congestion. Volume is steadily increasing but not yet explosive, which is encouraging.

The Relative Strength Index (RSI) is trending upward but not yet overbought, indicating potential for further upside. To maintain its bullish momentum, XRP must remain above $2.20. A drop below this level could weaken the golden cross pattern and potentially push the price back towards $2.

In conclusion, XRP is preparing for a change in momentum. If the mini-golden cross is confirmed and volume continues to increase, XRP may experience a steep run towards $3 sooner than anticipated.

References:
[1] https://u.today/xrp-mini-golden-cross-incoming-details