XRP News Today: XRP Surges 1.80% to $2.44 on Golden Cross Signal

Ripple’s token XRP experienced a significant surge, jumping to $2.44 on Thursday, marking a 1.80% increase in under three hours. This rally caught many traders off guard, as discussions about a potential push above the $3.4 barrier resurfaced. The catalyst for this optimism is a golden cross signal that formed on the weekly RSI on November 4, 2024. This signal preceded a previous run from $0.5029 to $3.388, leading some analysts to believe that history could repeat itself. If traders follow this pattern, a move to $5.85 is not out of reach.

Currently, XRP is trading at $2.44. Over the past day, the token has fluctuated between $2.36 and $2.44. The recent climb in Bitcoin’s price has contributed to increased volume for XRP. As of now, XRP is trading at $2.445, up 0.83% in the last 24 hours. Breaking the $3.33 resistance level would erase its 90-day slide of 5.62% and potentially pave the way for more substantial gains.

Last week, Bitcoin surged past $109,000, reaching an all-time high. This surge has lifted many altcoins, including XRP. One analyst noted that Bitcoin’s rise from $27,000 to $74,000 over approximately two years could be mirrored by XRP in a much shorter timeframe. While this is a bold claim, the current market conditions seem favorable for such a scenario.

According to a prediction by Polymarket, there is an 83% chance that the SEC will approve an XRP ETF. Major players like Bitwise and Grayscale have filings in progress. If these filings are approved, institutional flows could significantly increase, further boosting XRP’s price. Additionally, US-listed leveraged XRP futures are already trading heavily, indicating strong demand.

Whale wallets continue to accumulate XRP, contributing to the positive sentiment. Whenever large holders buy, prices tend to spike. However, the broader market mood also plays a crucial role. If Bitcoin experiences a pullback, altcoins often follow suit. Currently, the tide seems to be turning in XRP’s favor, with bullish indicators aligning to support a potential rally.

A break above the $3.4 resistance level would set a new cycle high for XRP. Reaching $5.80 would mean doubling the current price, but this will not be an easy feat. Traders will closely monitor the RSI, moving averages, and whale activity. Regulatory news, particularly regarding the ETF approval, will be pivotal. For now, XRP bulls have reasons to be optimistic, but patience will be key as the market continues to evolve.