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XRP is showing some red flags on the charts again, and this time, it is the ominous death cross making news. The popular altcoin just hit a technical event where its 23-day moving average slid below the 50-day moving average.
As of Monday morning, XRP is trading around $2.24, down 1.16% on the day. The market is showing signs of weakening, with declining bullish pressure.
The crossover, which you can see on the daily chart, shows that XRP is still moving slowly since it peaked near $3 earlier this year. The 200-day moving average still shows a general upward trend, but the recent price action suggests that traders are preparing for more volatility — or at least, indecision.
Momentum has been fading for weeks, and the failure to reclaim the $2.35 level only adds fuel to the bearish narrative.
If you look closely at the intraday view, the short-term chart does not give much hope, either. Overnight, XRP slipped steadily from around $2.27 to lows near $2.22, with only a modest recovery into the new trading session.
When a price bounces back up after dropping, it often means that either the buyers are tired or the sellers are waiting for the right time to jump in. But neither of these situations shows a lot of confidence in a quick upturn.
Death crosses do not always cause extreme drops, but they do indicate a shift in sentiment — moving from aggressive accumulation to a more cautious approach. If the $2.20-$2.18 support range breaks in the next few days, XRP could drop to $2 or even the high $1.90s, where past demand has been strong.
Vladislav Sopov
U.Today Editorial Team