- XRP leads after SEC settlement, achieves golden cross, and breaks multi-year triangle
- The altcoin is outperforming BTC and ETH, with quarterly price increases and monthly cash flows increasing.
XRP was hit hard after the SEC settled its legal case against Ripple, following Judge Analisa Torres’ $125 million fine.
This resolution has transformed XRP into a major player in global payments, with the UAE and India agreeing to use the alternative coin for oil transactions.
As a result, it increasedA bullish trend is expected, especially as Ripple prepares to pay a fine to the SEC.
These developments have led to noticeable changes in XRP price movements, signaling a change in the cryptocurrency’s performance.
Ripple’s XRP has shown impressive performance over the past 24 hours, rising 8% to reach the $0.61 price level. This surge coincides with the formation of a golden cross on the daily price chart.
Source: TradingView
The recovery across cryptocurrency markets is expected to continue, with XRP likely to be the biggest beneficiary.
A close above the $0.66 price level could see a strong rally coming up soon. According to the daily outlook, XRP is likely to close strong and gain more momentum on the back of its performance against BTC.
For the 11th week in a row, XRP has outperformed BTC, ETH, and the overall market in terms of dominance.
The recent reversal from a key level and the fact that XRP/ETH is at its lowest level since 2017 suggests that it may be a good time to buy.
Source: TradingView
XRP is about to make a huge breakthrough
XRP has broken out of its multi-year symmetrical triangle pattern and could potentially reach new highs in the coming months.
The recent SEC case settlement will be a huge boost for Ripple and the cryptocurrency market.
These positive developments are expected to help XRP break out of this long-standing pattern, potentially leading to a strong rally in Q3 or Q4 2024.
Source: TradingView
XRP has been leading the market recently, showing a new trend that may be difficult for many traders to adapt to.
Unlike the previous pattern where BTC and XRP moved together, XRP made higher lows while BTC made lower lows, showing significant volatility.
Source: TradingView
These divergences often indicate a reversal in the trend. As a result, XRP could hit new highs, with predictions suggesting it could hit $2 by early 2025.
Read our Ripple(XRP) Price Prediction 2024-25
Guaranteed monthly cash flow
XRP’s monthly money flow is showing positive signs at the time of writing, hitting higher highs when compared to the XRP/USD chart, indicating increased investment and interest.
As more money flows into XRP, the price is likely to move higher, suggesting that the cryptocurrency is potentially in an uptrend.
Source: TradingView