XRP Rises 6.93%, Golden Cross Still Unconfirmed

XRP rose 6.93% over a single day on the 18th, though a golden cross has yet to be confirmed on the daily chart. The rebound was attributed to Bitcoin's recovery and capital flow into altcoins. XRP started trading at $1.2964, climbed to $1.4028, and closed near $1.3863, marking one of the largest single-day gains in recent weeks. Decrypt cited Bitcoin (BTC) recovery and capital movement toward altcoins as factors behind XRP's rebound. CoinDesk reported that XRP's 50-day moving average is now within approximately 2% below its 200-day moving average. A golden cross occurs when a short-term moving average crosses above a long-term one, but the 50-day EMA remains below the 200-day EMA despite the narrowed gap—the smallest since August 2024.

It's important to distinguish between the narrowing of the distance between the two moving averages and an actual crossover. On shorter timeframes, a similar signal appeared earlier; XRP's EMA formed a golden cross on the 4-hour chart on August 21 but failed to maintain it as the gap narrowed again. The failure to sustain the short-term crossover does not guarantee a daily chart golden cross. Moving averages are calculated based on past prices, so signals can weaken after crossovers depending on price movements. Historical data shows inconsistent results: out of 16 golden crosses in XRP's history, none lasted over 12 months, and some did not even last three months. Among the 10 cases that held for up to three months, outcomes varied—five saw gains of 85% to over 1,000%, while others experienced drops of up to 32%.

The recent Bitcoin rebound has also influenced altcoin trends as Bitcoin's market cap share fell from 64% to below 59% amid its recovery above $80,000. The decline in Bitcoin’s dominance coincided with capital flowing into altcoins, though it remains unclear if the broader market is entering a strong altseason. CoinDesk noted that while interest has shifted toward altcoins, relevant metrics and investor sentiment have not yet reached high levels. Even when golden crosses and shifts in market share occur simultaneously, further confirmation of sustained signals is needed.