What to know:

• The XRP to bitcoin price ratio has formed its first golden cross on the weekly chart.
• A golden cross indicates that the short-term trend is outperforming the broader trend, possibly leading to a major bull run.
• The pattern has raised the probability of ratio breaking out of its prolonged sideways trend, suggesting a major XRP uptrend.

This analysis is conducted by a CoinDesk analyst and Chartered Market Technician.

The XRP-BTC price ratio has entered a bullish phase, as indicated by the formation of the first golden cross on its weekly chart. This technical pattern suggests strong momentum and indicates a potential breakout from its previous trend.

Previously, regulatory uncertainties hampered XRP’s price advances, but recent developments have cleared a significant obstacle. As the SEC has dropped its appeal regarding XRP’s status as a security, the pathway for a bullish movement seems more favorable.

The potential for substantial increases in price from this breakout can’t be overstated, as historical patterns show that prolonged periods of sideways movement usually precede sharp price changes in the direction of the upcoming trend.

XRP/BTC ratio’s weekly chart. (TradingView/CoinDesk)