XRP Shines with Golden Cross Despite Short-Term Caution

XRP recently demonstrated promising movements on its trading chart against Bitcoin, despite a brief pullback. The emergence of a golden cross on the 4-hour chart, characterized by the 50-period moving average surpassing the 200-period moving average, symbolizes a potential upward trend. However, consecutive red candlesticks in the same timeframe have left some market participants hesitant.

How Has XRP Stood Up Against Bitcoin?

Even though XRP experienced a minor downturn, it has maintained its strength against Bitcoin since mid-September. Both 4-hour and daily charts reveal how XRP has stayed above crucial moving averages, reinforcing the notion that its previous momentum hasn’t fully dissipated despite short-term fluctuations.

On September 25, XRP surged to $1.65. This rise aligned with its first “golden cross” of 2026 on the dollar pair’s daily chart. During this ascent, large-volume on-chain transactions increased significantly. Notably, there were 1,917 transactions worth $100,000 each, and the creation of 3,647 new XRP wallets was recorded.

Ali notes that the URPD indicator highlights a relatively limited resistance zone up to $1.60, predicting potential profit-taking where approximately 2.50 billion XRP previously exchanged hands.

What Role Did the ETF Filing Play?

Bitwise submitted an updated XRP ETF application to the SEC on September 18. Renowned for its crypto-focused investment products, Bitwise’s application coincided with a consecutive four-day rise in XRP’s value, sparking increased interest in the market.

XRP’s value dipped by 1.19% to $1.55 in the past 24 hours. Its peak in Friday’s trading session reached $1.62, with this decline linked to profit-taking following recent gains.

XRP’s Technical Landscape at the Forefront

According to analyst Ali, XRP appears to have completed the right shoulder of a significant inverse head and shoulders pattern on the daily chart, based on the dollar. A sustained break above the $1.60 level could lead to the neckline’s breach, potentially triggering a 30% price hike toward the $2 mark.

• Recent whale accumulation over the past five days exceeded 470 million XRP.
• This accumulation equates to an approximate total value of $724 million.

Large wallet holdings continue, suggesting ongoing market expectations regarding XRP’s future direction. With the 365-day MVRV ratio standing at negative 11.75%, it indicates that the average investor from the past year remains at a loss. This data implies limited downside risk, while persistent demand could pave the way for recovery.