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Analyst: The XRP/BTC ratio triggered the first golden cross on the weekly chart, which could evolve into a major bull run.
According to ChainCatcher news and reports from CoinDesk analyst and chartered market technician Omkar Godbole, the ratio between XRP and BTC price 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 outperforming the long-term trend and has the potential to evolve into a major bull run. The confirmed cross on the weekly chart of XRP/BTC has increased the likelihood of this ratio breaking out of its four-year horizontal channel, suggesting that XRP will experience a significant bull run relative to Bitcoin. Since the end of 2020, this ratio has been in a narrow sideways trend.