Foreign media reported that after Bitcoin reclaimed $80,000, sentiment in the crypto market improved, with XRP emerging as one of the stronger-performing major tokens that day. In addition to the price rebound, changes in the moving average structure on XRP’s daily chart have also reignited market interest in its future trajectory.
XRP posted a daily gain of nearly 7%.
XRP opened at $1.2964 today, rose intraday to $1.4028, then pulled back to around $1.3863, finishing with a daily gain of 6.93%. This marks one of its more notable single-day upward moves in recent weeks.
The article links this rally to the broader market recovery. Previously, risk assets were pressured by the Federal Reserve’s rate hikes, an unexpected rate hike by the Bank of Japan, and the U.S. Senate’s failure to advance the Clarity Act. As Bitcoin regains the $80,000 level, market appetite for altcoins has also improved.
The gap between the daily moving averages continues to narrow.
Foreign media noted that on XRP’s daily chart, the 50-day exponential moving average remains below the 200-day moving average, indicating the asset has not yet escaped its weak structure. However, the distance between the two moving averages has significantly narrowed, approaching its tightest level since the last golden cross in August 2024.
According to the article, if the current upward trend continues, a daily-level golden cross could appear as early as mid-October. A golden cross typically occurs when a short-term moving average crosses above a long-term moving average and is often viewed by the market as a signal of improving medium-term momentum.
However, the report also notes a caveat: XRP showed a similar crossover on the 4-hour chart as early as August 21, but the distance between the moving averages did not continue to widen; instead, it narrowed again. This suggests that the short-term signal has not sustained expansion, and whether the daily chart will ultimately confirm the trend remains to be seen.
Other indicators favor a support rebound.
- The ADX is 35.2, above the common threshold of 25.
- The RSI is 54.6, remaining in the neutral range.
- Squeeze Momentum has shown compression for 11 consecutive candles.
Foreign media believe this data indicates that the current trend strength remains robust, and XRP has not yet entered a clearly overheated zone following its rapid rise. If the volatility compression is broken, subsequent price fluctuations could intensify further.
Bitcoin's price movement remains crucial.
The article suggests that whether XRP can continue to narrow the gap between its daily moving averages depends on two conditions: whether Bitcoin's rebound can be sustained, and whether funds continue to flow from Bitcoin to altcoins.
If Bitcoin remains strong, XRP’s daily structure may continue to improve; however, if the market recovery is interrupted, the current rebound could remain a temporary correction. The report notes that over the coming weeks, the market will continue to monitor whether XRP’s 50-day moving average crosses above its 200-day moving average.