XRP Weekly Chart Forms First Golden Cross: Breakthrough Target of Top Traders

XRP Governor (@xrpgovernor), a prominent figure in the cryptocurrency space on X, has drawn attention to the recent technical developments in the XRP to Bitcoin trading pair (XRP/BTC), highlighting the potential for significant price volatility. Share a clip from Coindesk's report featuring Christine Lee, the XRP governor, who has drawn attention to the prediction of a surge to 8 dollars, stating that "The breakthrough could happen sooner than anyone thinks." Golden Cross Signals Price Increase Change The focus of the discussion is the first golden cross of XRP/BTC on the weekly chart—a technical pattern in which the 50-week simple moving average (SMA) crosses above the 200-week SMA. This is often understood as a bullish signal, indicating that the short-term momentum of XRP is currently stronger than its long-term trend, compared to Bitcoin. The chart, analyzed by Omkar Godbole of Coindesk, also shows that XRP has broken out of a four-year consolidation channel against BTC. The prolonged phase of sideways movement between these resistance and support levels has now given way to upward price action. The breakout and formation of a golden cross is a signal that XRP may be entering a new bullish phase. The Potential of Altcoin Season and ETF Speculation Ryan Lee, Chief Analyst at BitGet Research, highlighted the broader potential impacts of this move. Speaking with Coindesk, Lee noted that the reduction in Bitcoin's dominance could support the onset of an altcoin rally. Experts have pointed out that the declining dominance of Bitcoin often gives way to a surge in altcoins. Lee believes that XRP and Solana are particularly well-positioned to benefit from this shift, partly due to the ongoing speculation surrounding the potential of cryptocurrency exchange-traded funds (ETF). Clarity on Regulations and Forecast Objectives Lee also pointed out that the evolving legal context of XRP and recent breakthrough models are supporting factors for the new interest from investors. Therefore, he believes that traders are increasingly targeting a mid-range price of $3 to $8 for XRP. The combination of improving technical conditions and positive developments has encouraged analysts and traders to reassess the bullish potential of XRP. The Coindesk chart marks the Golden Cross as a focal point, highlighting an important area where bullish sentiment has formed after years of underperformance. The historical price performance of XRP is closely related to the developments regarding its legal status and the overall market sentiment. With recent signs of stability on the legal front and excitement towards the altcoin market in the short term, market participants are beginning to position themselves for a potential move towards higher targets.