XRP, the fourth largest cryptocurrency on market capitalization, recently shown a noticeable technical signal – the cross of death in its hourly diagram – which many merchants consider a sign of a bear pulse. This scheme, which occurs when a short -term sliding average drops below the long -term sliding average, appeared in the current market uncertainty.
In the case of XRP, the hourly sliding average 50 crossed the hourly average average 200, which indicates the “Cross of Death”.
The hourly cross of death suggests that the short -term XRP performance is energized, which reflects the wider market volatility. Although such technical signals are not final predictors of future prices, they serve as warning for investors to revise their positions.
Although the formation of the death cross can signal potential bear tendencies, it is important to note that short -term technical indicators can sometimes be fleeting or producing false signals in very unstable markets. Various technical and fundamental factors can be recognized for a decision on the next XRP market.
XRP price action
XRP traded at Red at the Early Sunday session, extending his fall from maximums in the amount of $ 2.62 on March 7. The fall in the price of the XRP coincided with the crypto -Sammit on Friday, since the hopes for inclusion in the strategic crypto -tanker disappeared.
At the time of writing, XRP decreased by 1.3% over the past 24 hours to $ 2.31. According to the crypto -analyst Ali, XRP is consolidated in a symmetrical triangle. A breakthrough can cause a 23 percent price rate.
If the breakthrough is solved before growth, and buyers increase the price above $ 3, XRP can gain impulse and gain $ 3.40. Sellers will try to protect the level of $ 3.40 with all their power, because if they fail in their efforts, XRP can fly up to $ 5.
RSI near the middle point involves Rangebound in the short term. If the decline continues, XRP can fall to $ 2.20. It is expected that buyers will greatly protect the zone from $ 2.20 to $ 2.00. If this fails, XRP can re -check support of $ 1.79 or daily SMA 200 in $ 1.60.
