XRP Nears Death Cross as Price Slides Over 15% This Week
XRP has plunged over 15% this week, falling from around $2.70 to a low of $2.08. The token initially dropped 6% to $2.28 before intensified selling pushed it below key support at $2.30. XRP is now trading near the lower boundary of its three-week range. Technical indicators point to further downside: the 50-day moving average is about to cross below the 200-day moving average (a death cross), and the MACD histogram is flashing a negative signal. Traders should watch price action and volume around the moving averages for confirmation of a downtrend. Analysts note that a confirmed death cross could reinforce bearish sentiment, though some view the current dip as a medium- to long-term buying opportunity.
Bearish
A looming death cross and negative MACD signal suggest renewed selling pressure on XRP, reinforcing bearish momentum. The sharp 15% weekly decline and breach of key support levels highlight potential for further downside. While some traders may eye the dip for longer-term entry, the immediate technical outlook remains negative, indicating continued downward risk for short-term trading.