XRP Price Surges 7% as Golden Cross Formation Takes Shape

XRP's price surged by approximately 7% to reach $1.41 over the weekend, with spot trading volume exploding to $1.36 billion within a 24-hour period.

The upward momentum was primarily driven by a significant short squeeze event triggered by Bitcoin reclaiming the $80,000 threshold, which resulted in $8.05 million worth of short positions being liquidated.

A golden cross formation is also developing, with the 50-day moving average currently trailing the 200-day moving average by just 2%, marking the narrowest separation since August 2024.

Institutional interest remains strong, with US spot XRP ETF inflows exceeding $1.7 billion.