Analyst: XRP/BTC ratio triggers first golden cross on weekly chart, could evolve into a major bull run

Mars Finance News, according to CoinDesk analyst and chartered market technical expert Omkar Godbole, the ratio between XRP and BTC prices has triggered the 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 is now superior to the long-term 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 breaking through its four-year-long horizontal channel, hinting at a significant bull market for XRP relative to Bitcoin. Since the end of 2020, this ratio has been trading in a narrow sideways trend.