XRP Gains 6.93% as Bitcoin Dominance Shift Opens Path Toward a Potential Golden Cross
Bitcoin dominance fell from 64% to 59% as $BTC clawed back above $80,000, and the rotation into altcoins was clearest in $XRP, which settled near $1.3863 for a 6.93% daily gain. That move tightened the gap between XRP's…
Key takeaways
- XRP rose 6.93% in a single day to settle near $1.3863, opening at $1.2964 and hitting a session high of $1.4028.
- Bitcoin dominance fell from 64% to 59% while BTC reclaimed above $80,000, driving capital rotation into altcoins like XRP.
- The gap between XRP's 50-day and 200-day EMAs narrowed to its closest point since the token's last golden cross in August 2024, though a death cross structure still stands.
- If the current pace holds, a golden cross could appear on XRP's daily chart as soon as mid-October.
- A failure to hold $1.38 raises the odds the move is a squeeze that fizzles before any crossover confirms.
Bitcoin dominance fell from 64% to 59% as $BTC clawed back above $80,000, and the rotation into altcoins was clearest in $XRP, which settled near $1.3863 for a 6.93% daily gain. That move tightened the gap between XRP's 50-day and 200-day exponential moving averages to its closest point since the token's last golden cross in August 2024.
XRP, the token created by the co-founders of payments company Ripple, opened at $1.2964 and ran to a session high of $1.4028, one of its sharpest single-day moves in weeks. The daily chart still shows a death cross structure, the 50-day EMA positioned below the 200-day. If the current pace of gains holds, that crossover could appear on the daily chart as soon as mid-October.
Indicators on the daily chart
The Average Directional Index sits at 35.2, above the 25 level traders treat as the line separating a real trend from sideways chop, with the positive directional line running ahead of the negative one. The Relative Strength Index is at 54.6, neutral territory that leaves room before overbought readings become a risk after a near-7% session. The Squeeze Momentum Indicator has been in the "on" state for 11 straight bars, a signal traders read as compressed volatility ahead of a larger move, with the momentum reading inside that squeeze trending back toward positive.
One wrinkle sits in the 4-hour chart. XRP's shorter-term EMAs flipped into a golden cross on August 21, but that gap has been narrowing since then rather than widening. Some analysts hold that each timeframe should be read on its own terms, and a crossover that fails to hold on a faster chart does not guarantee confirmation on the daily.
What to watch
Bitcoin absorbed three macro headwinds this week without surrendering its range: the Federal Reserve's rate hike, the Senate's 49-50 vote against advancing the Clarity Act, and a surprise Bank of Japan rate hike. The range-hold kept capital moving into altcoins and gave XRP the conditions to keep tightening the gap between its moving averages.
Two readings will settle the setup: whether Bitcoin's rebound holds long enough to sustain the altcoin rotation, and whether XRP's 50-day EMA can close above its 200-day on the daily chart around mid-October. A confirmed golden cross, paired with the ADX holding above 25, would validate the current move. A failure to hold $1.38 raises the odds this turns out to be a squeeze that fizzles before the crossover ever confirms.