Analyst: XRP/BTC Ratio Triggers First Golden Cross on Weekly Chart, Potentially Leading to Major Bull Market

According to CoinDesk analyst and Chartered Market Technician Omkar Godbole, the ratio between XRP and BTC prices has triggered its first golden cross on the weekly chart, indicating a bullish momentum shift. A golden cross occurs when the 50-day/week/month simple moving average (SMA) crosses above the 200-day/week/month SMA, suggesting that the short-term trend now favors the larger trend and has the potential to evolve into a major bull market.

The confirmed cross on the XRP/BTC weekly chart increases the likelihood of the ratio breaking out of its four-year-long sideways channel, implying a significant bull market for XRP relative to Bitcoin. Since the end of 2020, the ratio has been in a narrow sideways trend.