XRP Surges 6.9% as Bitcoin Rebound Reopens Door to Golden Cross
Crypto markets rebounded after a difficult stretch of Fed, Senate, and Bank of Japan shocks, with Bitcoin back above $80,000. Bitcoin dominance fell from 64% to 59%, suggesting traders are rotating into altcoins. XRP benefited most, rising about 6.9% intraday to around $1.39. Technically, XRP still has a bearish daily “death cross” setup, with the 50-day EMA below the 200-day EMA, but the gap has narrowed to its tightest since the last golden cross in August 2024. If gains continue, a daily golden cross could form by mid-October. On the 4-hour chart, a golden cross already appeared in late August but has not held. Momentum indicators look constructive: ADX is 35.2, showing a strong trend; DI+ is above DI-; RSI is 54.6, leaving room before overbought conditions; and the Squeeze Momentum Indicator has stayed on for 11 bars, hinting at a larger move ahead. XRP needs Bitcoin’s rebound and support above roughly $1.38 to keep the bullish case intact.
