XRP has a good chance of hitting $1.50 in the fourth quarter of 2021 after painting a bullish crossover between its 20-day and 50-day exponential moving averages (EMA).
The so-called Golden Cross has appeared multiple times on XRP charts in history. Its last occurrence was on Aug. 10, which followed up with a circa 80% price rally later, with XRP topping out seasonally at $1.43 before pulling back to the downside.
Similarly, a close of XRP’s 20-day EMA above 50-day EMA on Feb. 4, coincided with an approximately 400% price rally afterward. In doing so, XRP reached a year-to-date high of $1.98, further attesting that the latest Golden Cross could prompt a similar bullish response from traders.
XRP/USD daily price chart featuring Golden Cross. Source: TradingView.com
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