It could be on the verge of a major price breakout as a golden cross technical pattern begins to form. The token, widely used for cross-border payments, last traded above $3 in January 2025, but has since struggled to reach that level again. Now, momentum may be building for a rebound.
Golden Cross and Institutional Backing Boost XRP Sentiment
A golden cross occurs when the 50-day moving average crosses above the 200-day moving average, often seen as a bullish signal. Analysts believe XRP is close to completing this pattern, and the formation could trigger a fresh wave of investor interest.
Currently, it’s is priced at $2.07, showing a slight 0.73% dip in the last 24 hours. Trading volume has dropped 21.84%, suggesting traders may be waiting for confirmation before re-entering the market. But if the golden cross plays out, it could push XRP past the next key resistance level at $2.60, with a return to $3 in sight.
Adding to the optimism is a major move from HashKey Capital, a prominent Asian investment firm. The company recently launched an XRP tracker fund, marking a significant moment in XRP’s history. It’s now the only altcoin besides Ethereum to receive such institutional backing.
In the U.S., investors are still waiting for the SEC to approve XRP-based ETFs. According to ETF Store President Nate Geraci, approval might be close, and there are few reasons for the SEC to hold it back any longer.
With both technical patterns and institutional support aligning, traders are watching closely. If conditions remain favorable, XRP could be poised for a strong rally in the weeks ahead.
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