XRP has formed a "golden cross" on its Bitcoin trading pair, but analysis suggests that despite the bullish signal, current market timing may not be suitable for an immediate rally.

The "golden cross" formed on the XRP/BTC 4-hour chart as the MA 50 crossed above the MA 200, typically considered a bullish signal. However, this signal appeared as the XRP/BTC 4-hour chart recorded six consecutive red candles, surprising bullish traders.

Nevertheless, XRP has been on a continuous uptrend against Bitcoin since September 16, reaching a high of $1.65 on September 25, coinciding with the XRP/USD trading pair's first daily "golden cross" in 2026. During this rally, whale trading activity significantly increased, recording 1,917 transactions valued at $100,000, and the number of new XRP wallets surged to 3,647. XRP rose for four consecutive days around September 18, when Bitwise submitted an updated XRP ETF registration filing to the U.S. Securities and Exchange Commission (SEC).

Crypto analyst Ali noted that the URPD indicator shows relatively little resistance for XRP before $1.60, a price point where approximately 2.5 billion XRP changed hands, potentially leading to profit-taking. Additionally, the XRP/USD daily chart appears to have completed the right shoulder of a large inverse head and shoulders pattern. A decisive breakout above the $1.60 neckline could confirm this pattern and trigger a 30% rally, targeting $2.

As of publication, XRP has fallen 1.19% in the past 24 hours to $1.55, after reaching a high of $1.62 during Friday's trading session.