XRP rose by 6.93% over the last 24 hours, moving from an opening price of $1.2964 to a high of $1.4028 before settling near $1.3863. This performance follows a period of market volatility, during which Bitcoin recovered to trade above $80,000.
Bitcoin's market dominance has decreased from 64% to 59%, suggesting that investors are shifting capital into altcoins. This rotation has benefited XRP, which is currently showing a narrowing gap between its 50-day and 200-day exponential moving averages (EMA).
Technical indicators for XRP show an Average Directional Index (ADX) at 35.2 and a Relative Strength Index (RSI) at 54.6. The Squeeze Momentum Indicator has been active for 11 consecutive bars, indicating compressed volatility.
A potential golden cross on the daily chart could occur by mid-October if current trends persist. While a similar crossover appeared on the 4-hour chart on August 21, the gap between the averages has since narrowed rather than widened.
