Analyst: XRP/BTC ratio triggers first gold crossover on weekly chart, indicating bullish shift

According to Foresight News, CoinDesk analyst and licensed market technology expert Omkar Godbole reported that the ratio between XRP and BTC prices triggered the first gold crossover on the weekly chart, indicating a bullish shift in momentum. When the 50 day/week/month simple moving average (SMA) crosses the 200 day/week/month SMA, a golden cross occurs, indicating that the short-term trend is now better than the major trend and may evolve into a major bull market. The confirmed crossover on the XRP/BTC weekly chart increases the likelihood of the ratio breaking through its four-year long horizontal channel, suggesting a major bull market for XRP relative to Bitcoin. Since the end of 2020, this ratio has been in a narrow horizontal trend.