$XRPis on the verge of a technical pattern known as a "golden cross" in its Bitcoin ($BTC) pairing. This pattern, often seen as a bullish signal, occurs when a short-term moving average crosses above a long-term moving average, indicating potential upward momentum.

On the $XRPvs. $BTCchart, the 50-day SMA has turned up and looks set to move above the 200-day SMA in the coming days. Both moving averages are already converging, suggesting that a golden cross is imminent. For $XRP, this could herald further price gains against Bitcoin, especially if the broader cryptocurrency market remains favorable.

The potential for a golden cross comes at a time when $XRPand other altcoins are experiencing rallies.

According to Santiment, "While eyes have been on Bitcoin making history, altcoins like $XRPare growing their respective market caps rapidly. As long as $BTCmaintains a $95,000 support, expect November profits to continue redistributing to altcoins."

$XRPgains ground against Bitcoin

$XRPis gaining ground against Bitcoin, outperforming the top crypto asset in weekly and monthly gains. $XRPhas increased 61% weekly, compared to Bitcoin's 9% gain during the same period.

$XRPhas been rising against Bitcoin since Nov. 12, reaching a high of $0.00001522 in today's trading session, a level not seen since early December 2023.

Select altcoins soared in the last 24 hours after SEC Chair Gary Gensler announced that he plans to step down.

$XRPincreased by as much as 30% on Friday following Gensler's statement the day before. Ripple has been involved in a lengthy legal battle with the SEC over the status of digital assets.

At the time of writing, $XRPwas up 25.76% in the last 24 hours to $1.42. Bitcoin traded at $97,563 after reaching all-time highs of $99,543.