XRP Forms Golden Cross as Price Holds Near $3 in Renewed Rally

XRP forms a golden cross on its two-hour chart, signaling renewed bullish strength and growing investor confidence.

The cryptocurrency remains range-bound between $2.94 and $3.10, with traders watching for a breakout above $3.10.

Upcoming XRP ETF decisions and XRPL protocol upgrades could define market sentiment through the fourth quarter.

XRP has formed a golden cross on its two-hour chart, signaling growing bullish momentum as October begins. This technical formation occurs when the 50-period moving average rises above the 200-period moving average, often viewed as an indicator of potential upward strength. XRP has gradually recovered since September 26, pushing above the $2.93 mark and maintaining levels near $3 since October 1.

The asset has traded consistently between $2.94 and $3.10 in recent sessions. Despite briefly moving past $3, XRP has faced resistance at $3.10, preventing a sustained breakout. The Relative Strength Index (RSI) remains close to the 50 midpoint, suggesting a balance between buying and selling pressures and indicating possible consolidation in the short term.

Technical Focus Turns to $3.10 Resistance

Market participants are closely observing whether XRP can maintain stability above the $3 level. A confirmed move beyond $3.10 could set the stage for targets between $3.30 and $3.50. If bullish momentum continues, further gains toward the $4 region may follow. The recent recovery reflects improving sentiment among traders and renewed optimism surrounding potential catalysts in the fourth quarter.

Source: TradingView

Significant developments are on the horizon that may influence XRP’s trajectory. Six XRP exchange-traded fund (ETF) applications await regulatory decisions in October, which traders view as pivotal events. Additionally, options on XRP futures are expected to launch on the CME Group platform on October 13.

Ecosystem Advancements Add to Optimism

Further advancements on the XRP Ledger (XRPL) could strengthen long-term market confidence. The XRPL’s native lending protocol is set for release in version 3.0.0, and work continues on integrating zero-knowledge proofs to improve privacy and scalability while ensuring compliance.

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