XRP Surges 36% In A Week, Technical Indicators Suggest Further Gains

XRP has seen a significant surge in value, reaching a weekly high of $2.19. This upward trend began after the asset plummeted to its year-to-date low of $1.61 on April 7. Since then, holders have capitalized on the dip, increasing their accumulation efforts and driving the asset’s value higher over the past week.

Technical indicators suggest that XRP is poised for further gains. On the daily chart, a golden cross has formed on XRP’s Moving Average Convergence Divergence (MACD) indicator. This pattern, which occurs when the MACD line crosses above the signal line, is often interpreted as a key signal of a shift toward long-term upside. For XRP, this golden cross emerged on April 11, reinforcing the growing bullish sentiment surrounding the asset. This pattern indicates that the altcoin’s recent price rebound is not just a short-lived reaction but may mark the beginning of a more sustained uptrend.

Additionally, the token’s positive Chaikin Money Flow (CMF) supports this bullish outlook. At press time, the CMF rests above the center line and in an uptrend at 0.07. The CMF indicator measures how money flows into and out of an asset. A positive CMF reading, as with XRP, means buying pressure is stronger than selling pressure over a given period. It suggests capital is flowing into the token, signaling accumulation and potential price growth.

Since its rally began on April 7, XRP has traded above an ascending trend line. This bullish pattern emerges when an asset forms higher lows over time, creating an upward-sloping support line. It signals sustained buying interest in XRP and suggests that momentum is building in favor of the bulls as the token’s price continues to climb. If demand soars, XRP could extend its gains and climb to $2.29. A successful flip of this resistance into a support floor could propel XRP to $2.50. However, if profit-taking resumes and selling pressure rises, XRP could reverse its uptrend and fall to $1.99.