XRP Creates New Golden Cross, What to Watch Now

A golden cross, which occurs when a short-term moving average such as the MA 50 crosses over a long-term MA, has appeared on XRP's four-hour chart, indicating short-term buying pressure.

The crypto market rose in the week as investors weighed the possibility of a potential rate cut at the upcoming Fed meeting on the 16th and 17th of this month.

XRP also rose following positive triggers, including demand for XRP products and ETF optimism. In the past week, 3iQ, issuer of Canada's XRP ETF XRPQ, reported a major milestone. XRPQ surpassed CAD 150 million for the first time in its AUM, making it the largest among its peers.

The potential launch of Rex Osprey crypto ETF funds, which includes an XRP product, also spurred positive ETF expectations in the market.