After reaching an annual low of $1.61 on April 7th, XRP holders intensified their buying efforts, taking advantage of the decline. This buying pressure steadily increased the asset's value over the past week.

At the time of reporting, XRP is trading at the day's high of $2.19, and technical indicators suggest the upward trend may continue.

XRP Golden Cross, Upward Momentum

A golden cross has formed on XRP's Moving Average Convergence Divergence (MACD) indicator on the daily chart. This is often considered a key signal indicating a transition to a long-term upward trend.

The MACD indicator measures the asset's price trend and momentum, identifying reversal points. A golden cross forms when the MACD line (blue) crosses above the signal line (orange).

When such a golden cross appears, it indicates a shift in investor sentiment to a positive outlook. Traders interpret this as a signal that buying pressure exceeds selling activity, which can attract more funds and drive up the price.

In the case of XRP, this golden cross occurred on April 11th, reinforcing the bullish sentiment towards the asset. This pattern confirms that the recent price rebound of altcoins may be the beginning of a more sustained upward trend rather than a short-term reaction.

Additionally, the token's positive Chaikin Money Flow (CMF) supports this upward outlook. At the time of reporting, the CMF is above the centerline and showing an upward trend at 0.07.

The CMF indicator measures the inflow and outflow of funds into an asset. A positive CMF reading for XRP indicates that buying pressure is stronger than selling pressure. This suggests capital is flowing into the token, indicating accumulation and potential price appreciation.

XRP Maintains Upward Trend... Next Target $2.50 or $1.99?

Since the rally began on April 7th, XRP has been trading above the upward trend line. This rising pattern occurs when an asset forms higher lows over time, creating a support line with an upward slope.

This indicates continued buying interest in XRP and suggests that the upward momentum is strengthening as the token's price continues to rise.

With surging demand, XRP could rise to $2.29. If successful in converting this resistance to a support line, XRP could climb to $2.50.

However, if profit-taking resumes and selling pressure increases, XRP could reverse its upward trend and drop to $1.99.