Golden Cross in XRP: Analysts Predict 10x to 650x Price Surge Ahead

Price Prediction Ripple XRP

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Simon Chandler is a Brighton-based writer and journalist with over ten years of experience writing about crypto, technology, politics and culture. He has written for Cryptonews.com since late 2017,...

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August 20, 2024

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XRP has jumped by 5% in the past 24 hours, rising to $0.6109 as the crypto market enjoys a 2.5% gain today.

The alt is now up by 6% in a week and by 20% in a fortnight, making it one of the best-performing major tokens of these periods.

And with XRP also sitting on 15% increase in a year, some analysts are pointing to a recent golden cross on its 5-day chart to suggest that even bigger returns are on the horizon.

XRP certainly has been in an undervalued position for too long, and now that rate cuts in September are increasingly likely, it could see a strong end to the year.

Golden Cross in XRP: Analysts Predict 10x to 650x Price Surge Ahead

Posting on X, analyst JD noted that XRP has rallied by anything from 900% to 64,900% after witnessing a golden cross on its 5-day chart.

Such gains have come between 70 and 280 days following each cross, so it’s not clear just how long we may have to wait for XRP to complete the next bull cycle.

Regardless, JD is highly bullish for XRP, and notes in his chart that he advises taking “calculated profits once multiple oscillators are overbought.”

While technical indicators are never failsafe, several fundamental factors lend themselves to suspecting that XRP will enjoy some sustained growth soon.

The first is that Ripple finally settled with the SEC a couple of weeks ago, with the firm facing a much smaller penalty ($125 million) than what the regulator originally sought ($2 billion).

This has freed Ripple to resume expanding, with the company announcing a couple of new partnerships since settling, with more likely to follow.

In turn, this will boost usage of XRP Ledger and, by extension, XRP.

Improving market and macroeconomic conditions will also boost the bull case for the coin, with the Fed likely to cut rates next month, and possibly cut rates again before the year is out.

As such, XRP could reach $1 by the close of the year, before climbing towards its ATH – $3.40 – next year.

Looking at its 1-hour chart, it may actually dip a little in the next day or so, before returning to growth.

Its RSI (purple) has just begun falling from 70, suggesting a short-term decline.

Meanwhile, its 30-period average (orange) is now so high above the 200-period average (blue) that it should really come down soon.

Still, the bigger picture looks very good for XRP, and any dip is likely to be brief.

Presale Tokens for Above-Average Returns

Because XRP may not see its next peak for months, some traders may wish to diversify into smaller tokens, including presale coins that could potentially surge once they list.

A very good example of such a token is Crypto All-Stars (STARS), a new Ethereum-based coin that has raised in excess of $550,000 in its sale.

What’s special about Crypto All-Stars is that it will be first the token in the market to provide a ‘MemeVault.’

Its MemeVault is a staking platform in which investors can stake any meme token, with the project’s use of the ERC-1155 multi-token standard enabling it to tokenize coins running on other chains.

The bullish part for STARS is that users who stake external coins will receive more staking rewards if they hold more STARS tokens.

This will incentivize greater long-term ownership of STARS, which will have a max supply of 42.069 billion.

20% of this supply will go to staking rewards and 20% to the presale, which investors can join by visiting the official Crypto All-Stars website.

They can currently buy STARS at a price of $0.0013966 per token, although this will rise in just under three days and will continue to rise periodically until the sale ends.

And once it ends, the increasing popularity of Crypto All-Stars could see the token surge upon listing.

Buy STARS Now