XRP Price Pulls Back as MVRV Death Cross Signals Downside
XRP price has retraced 17% from its July all-time high of $3.65, slipping to around $2.99 as momentum cools. On-chain data show the MVRV death cross—where short-term market value falls below realized value—signalling heightened risk of further downside. Trading volume dropped over 23% to $4.83 billion, while derivatives open interest rose 2% to $7.33 billion and derivatives volume fell 34%, reflecting cautious traders holding positions amid uncertainty.
On the technical front, XRP price trades below its 10-day and 20-day EMAs at $3.02 and $3.01, generating sell signals. The RSI stands at 51.3 (neutral) and the Stochastic RSI near 14 hints at an oversold condition and a potential short-term bounce. Longer-term EMAs at $2.79 (50-day) and $2.34 (200-day) still underpin the uptrend. Key resistance lies at $3.20, with support levels at $2.95 and $2.75; a break below $2.75 could open the $2.50 zone. Traders should monitor these technical indicators, trading volume trends and the MVRV death cross to gauge XRP price momentum and the next directional move.
Bearish
The MVRV death cross and a 23% drop in XRP’s trading volume point to weakening market conviction, while open interest in derivatives edges higher, indicating cautious positioning. Technically, trading below the 10- and 20-day EMAs generates sell signals, and a break under $2.75 could lead to deeper correction toward $2.50. Although the 50- and 200-day EMAs support the longer-term uptrend, the combination of bearish on-chain indicators and subdued spot activity makes a near-term downturn more likely.