XRP Surges 6.9% as Bitcoin Rebound Reopens Door to Golden Cross

In brief

• XRP jumped 6.93% on the day, opening at $1.2964 and topping out at $1.4028 before settling near $1.3863—one of its sharpest single-day moves in weeks.
• The gap between XRP's 50-day and 200-day EMAs on the daily chart has narrowed to its tightest point since August 2024, and a golden cross could form as soon as mid-October if the current pace holds.
• That same crossover already happened on the noisier 4-hour chart back on August 21—but the gap has been closing instead of widening since then, a warning sign the daily golden cross isn't a lock.

Crypto traders are breathing a little easier today. After a rough stretch defined by a Federal Reserve rate hike, the Senate's 49-50 vote against advancing the Clarity Act, and a surprise rate hike from the Bank of Japan, Bitcoin has clawed its way back above $80,000.

That recovery is showing up clearest in the altcoin space: Bitcoin's dominance, or its share of total crypto market value, slipped from 64% to 59%, a sign that traders are rotating profits into smaller tokens.

XRP, the cryptocurrency created by the co-founders of payments company Ripple, is one of the biggest beneficiaries of that rotation.

XRP opened the day at $1.2964 and pushed as high as $1.4028 before settling near $1.3863, a gain of 6.93% on the daily candle and one of its sharpest single-day moves in weeks.