XRP Price Surges 2% as a Golden Cross in Altcoins Signals a Bullish Move – Bulls Eye $3.50
Highlights:
- The XRP price surges 2% to $3.05 as trading volume increases by 4%.
- CoinMarketCap Altcoin season sits at 43/100, as a golden cross emerges on altcoins.
- A crypto analyst cautions of a deeper correction in the XRP price as the MRV ratio flashes a death cross.
The XRP price is up 2% to $3.05, with a 4% increase in trading volume to $5.77 billion. This recent surge coincides with the formation of a golden cross in the altcoin market, a bullish signal that typically precedes a strong upward rally. According to the CoinMarketCap Altcoin Season Index, it currently stands at 43/100, indicating that the altcoin season is gaining momentum.
On the other hand, the recent market action has suggested bullishness following the golden cross in altcoins, according to Crypto Rover. A Golden Cross is a bullish indicator evident when the short-term moving average(50-day SMA) crosses above the long-term ( 200-day SMA).
Golden cross for Altcoins.
Send it! 🚀 pic.twitter.com/otS89MuzVG
— Crypto Rover (@rovercrc) August 4, 2025
With the recent market sentiments, will the growing momentum trickle down to altcoins like XRP?
XRP Price Poised for Further Upside as Volume and OI surge
The cross-border payment token, XRP, is portraying a strong upward trend, as displayed in the derivatives market. Based on the XRP derivatives data, the volume has increased 15% to $9.58, indicating intense investor confidence. Moreover, the open interest has risen by 1.79% to $7.49 billion. This rise indicates a high degree of confidence in the future value of XRP in the market.
According to current market statistics, the activity of XRP in the derivatives market suggests that substantial trading is taking place. The long/short ratio on Binance is higher, indicating that traders are more bullish on a further price increase. The XRP liquidations reached $12.56 million in the last 24 hours, with a significant number of liquidated shorts observed. This further demonstrates the bullish picture in the XRP price trend, as bearish positions are being locked out, thereby heightening the upward-moving pattern.
A quick glance at the daily chart shows the XRP price is gaining strength after rebounding from the $2.78 lows recorded on August 2. Currently, the token is trading at around $3.05. However, traders should be cautious as the market still portrays instability. Meanwhile, the immediate support zones at $2.68, aligning with the 50-day SMA, and $2.45, aligning with the 200-day SMA, portray a bullish outlook. Moreover, on July 22, a Golden Cross was triggered, suggesting a long-term bullish signal.
On the other hand, the RSI has rebounded above the 40-level, currently at 53.54. This indicates that the market has reset and may soon reach higher levels, particularly with the RSI above 50. However, the Moving Average Convergence Divergence (MACD) remains below the signal line, reinforcing a bearish trend. This signals caution among traders, as a sell signal remains in effect.
What’s Next for XRP?
Looking at the bigger picture, with traders piling in, the XRP price could soon test resistance around $3.29-$3.50. In the short term, traders can expect about an 18% bounce to $3.50 within the next week, fueled by dip-buying FOMO. However, according to popular analyst, Ali Martinez, the MVRV ratio flashed a death cross for XRP, suggesting a steeper correction could be underway. In such a case, if the $2.97 support zone is breached, further downside could be imminent, targeting $2.74.
The MVRV ratio flashed a death cross for $XRP, suggesting a steeper correction could be underway! pic.twitter.com/DDTuDjj6rE
— Ali (@ali_charts) August 3, 2025
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Emmaculate Araka
Emmaculate Araka is a cryptocurrency writer with published works on Crypto2Community and other news sources. She is believer in the transformative power of crypto and the blockchain industry, conducting on-chain analysis, breaking down market-triggering events, and helping traders and investors benefit from expert technical price analysis. Emmaculate finds gratification in diving deep into the crypto space, earning herself significant knowledge and experience. She holds a Bsc. in Information Science, and outside work, Emmaculate loves reading novels and watching documentaries.
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