XRP holds near $1, but daily & weekly charts flash warning
XRP is trading around $1.00, keeping alive a near two-year daily streak of closing above $1 (635 sessions as of last week). Today XRP is up about 1% to ~$1.0046, after opening near $0.9935 and dipping to ~$0.9882.
However, the article flags deteriorating technicals. On the daily timeframe, XRP’s 50-day EMA is below its 200-day EMA, a “death cross” setup that suggests sellers control the short-to-medium trend. On the weekly timeframe, the 50-week EMA is still above the 200-week EMA (the post-election “golden cross” structure remains), but the gap has been shrinking and weekly ADX is 33.7—an indicator of a strong trend pointing in the wrong direction for longs.
Momentum levels also look constrained: XRP hasn’t reclaimed its shallowest Fibonacci retracement resistance near $1.0281. The “golden zone” resistance is cited at ~$1.0754–$1.0965, with ~$1.1264 (78.6% Fib) if momentum persists. Support is ~$0.98 (this week’s low) and ~$0.9061 as a major deeper level.
Risk backdrop: the Senate delayed the Clarity Act vote to mid-September; the SEC also pulled a vote on new crypto fundraising rules. Separately, a bridge exploit reportedly drained ~$200,000 via a connection between TX Chain and the XRP Ledger.
Traders should note leverage risk: whales reportedly bought ~380M XRP near $1 while adding ~$1.5B in leveraged longs. That can amplify downside if $1 breaks due to forced liquidations.
Overall, XRP’s stability is being tested by bearish trend signals—so break levels around $1.00 and $1.07–$1.10 matter for near-term positioning.
Bearish
The article’s core takeaway is that XRP’s price stability near $1 is increasingly at odds with bearish trend signals. The daily 50/200 EMA relationship is described as a “death cross,” implying the short-to-medium trend has flipped. On the weekly chart, XRP still preserves the post-election “golden cross” foundation (50-week above 200-week), but the narrowing gap plus weekly ADX at 33.7 signals a strong trend with bearish direction—often a setup for delayed but meaningful downside.
This resembles typical late-stage “range-to-break” behavior seen in prior downtrends: price can hold for a long time due to dip-buying (here, the long above-$1 streak and support around $0.98), while trend indicators deteriorate in the background. The presence of large leveraged longs near $1 adds a catalyst for faster moves if support breaks—forced liquidations can convert a slow drift into a sharper selloff.
Short term, traders may attempt mean reversion toward resistance ($1.07–$1.10) but should expect higher rejection risk if XRP can’t reclaim key retracement levels (e.g., ~$1.0281). Long term, the market would likely need a more convincing weekly reversal (ADX cooling, EMAs re-expanding in favor of price) to turn neutral-to-bullish; otherwise, rallies may be sold into within the broader bearish structure.