XRP Surges as Bitcoin Rebound Ignites Altcoin Rotation

XRP's price surged 6.93% on September 29, reaching a high of $1.4028 before settling near $1.3863.

This move marks one of the cryptocurrency's sharpest single-day gains in weeks and comes as Bitcoin recovers from recent losses, pushing its dominance below 64% for the first time since July.

The gap between XRP's 50-day and 200-day exponential moving averages (EMAs) has narrowed to its tightest point since August 2024, setting up a potential golden cross if current trends continue.

However, analysts note that a crossover on the daily chart is not guaranteed, as a similar setup occurred on the 4-hour chart in August but ultimately failed to hold.