Related Reading: Investor Put $1k In Top 10 Crypto Assets to Start 2020. Here\u2019s How It\u2019s Going Now<\/a><\/h6>\nDespite this dramatic underperformance, which some fear is a sign of the asset’s long-term weakness, the chart of the leading altcoin just printed an extremely strong sign.<\/p>\n
Ripple’s XRP Prints Extremely Strong Signal<\/strong><\/h2>\nToday, NewsBTC observed that XRP printed an extremely bullish signal: on its daily chart against the U.S. dollar, the 50-day simple moving average (red line) crossed above the 200-day simple moving average (green line) for the first time in months, suggesting bulls are in control.<\/p>\n
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For those unaware, this technical formation is known as a golden cross, which has traditionally been seen as extremely bullish, and may be seen as the same for XRP. Investopedia explains<\/a> this concept further:<\/p>\n“As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.”<\/p><\/blockquote>\n
While a full analysis of this technical signal’s effect on the price of XRP hasn’t been done, this writer did an analysis of golden crosses for Bitcoin and found astonishing results.<\/p>\n
This writer found<\/a> that “real” Bitcoin golden crosses<\/a> led to rallies of 20,500%, 6,750%, and 150%, respectively. Case in point, a golden cross on the BTC chart in 2015 led to a surge from around $300 to $20,000 in under a few years’ time; not once in this rally did the golden cross exhibit a reversal into a death cross.<\/p>\n\n"Real" Bitcoin golden crosses led to rallies of 20,500%, 6,750%, and 150%.<\/p>\n
If history rhymes, BTC could do extremely well in the coming years. pic.twitter.com\/IJZ2gXl9Jf<\/a><\/p>\n— Nick Chong (@n1ckchong) February 18, 2020<\/a><\/p><\/blockquote>\n
Today, NewsBTC observed that XRP printed an extremely bullish signal: on its daily chart against the U.S. dollar, the 50-day simple moving average (red line) crossed above the 200-day simple moving average (green line) for the first time in months, suggesting bulls are in control.<\/p>\n
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For those unaware, this technical formation is known as a golden cross, which has traditionally been seen as extremely bullish, and may be seen as the same for XRP. Investopedia explains<\/a> this concept further:<\/p>\n “As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.”<\/p><\/blockquote>\n While a full analysis of this technical signal’s effect on the price of XRP hasn’t been done, this writer did an analysis of golden crosses for Bitcoin and found astonishing results.<\/p>\n This writer found<\/a> that “real” Bitcoin golden crosses<\/a> led to rallies of 20,500%, 6,750%, and 150%, respectively. Case in point, a golden cross on the BTC chart in 2015 led to a surge from around $300 to $20,000 in under a few years’ time; not once in this rally did the golden cross exhibit a reversal into a death cross.<\/p>\n "Real" Bitcoin golden crosses led to rallies of 20,500%, 6,750%, and 150%.<\/p>\n If history rhymes, BTC could do extremely well in the coming years. pic.twitter.com\/IJZ2gXl9Jf<\/a><\/p>\n — Nick Chong (@n1ckchong) February 18, 2020<\/a><\/p><\/blockquote>\n\n