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XRP is trading at $1.47, its highest since 2021, and could shatter its 2018 all-time high of $3.317. A rare golden cross, combined with the breach of a 5-year resistance, signals a historic price breakout for the cryptocurrency.
XRP Breaks Past $1.47: A New High in Sight
Popular cryptocurrency XRP's price is on the verge of reaching a new record high. With a price of $1.47 per XRP, the popular cryptocurrency is seeing its highest level of activity since May 2021, when the previous notable bull market in cryptocurrencies occurred.
Though it was a long time ago, in early 2018, XRP reached its all-time high price of $3.317, making it the sixth largest cryptocurrency by market cap. Since XRP's price has increased by 186.5% this month, surpassing a critical level of dynamic resistance that has only been in existence since 2018, technical signs imply that this high may soon be surpassed.
Simply put, this statistic suggests that the famous cryptocurrency has loftier goals this time around compared to 2021.
Rare Golden Cross on XRP’s Weekly Chart
But that's not all: XRP may get some technical analysis confidence from the golden cross that's building on the cryptocurrency's weekly chart.
As the smaller 50-day moving average crosses the larger 200-day curve, a golden cross is generated. The orders of the two moving averages are different. If the pattern is created over a longer period of time, it may have more influence. The last time XRP had a golden cross on the weekly chart was in May of 2021, and they are extremely rare, U.Today points out. The top price of XRP occurred simultaneously with its release.
Now that the dynamic resistance has been broken, things could be different—possibly with a greater ceiling.
XRP’s Potential Target: The $4.20 Milestone
The memetic quality of the figure $4.20 makes it an entertaining goal for XRP price targets mentioned in previous pre-breakout predictions.
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