LONDON (IT BOLTWISE) – Cryptocurrency XRP is facing a crucial phase as a death cross signals a possible price slide. Traders are preparing for a possible decline to the $1.93 support level. Recent technical signals point to a continuation of the downtrend as the broader crypto market shows weakness.
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The cryptocurrency XRP is in a critical phase as a death cross has appeared, indicating a possible price slide. This technical signal, created by crossing the 10-day and 50-day moving averages, is often viewed as a harbinger of a longer downtrend. Traders are preparing for a possible decline to the $1.93 support level, with a possible extension to $1.75 if bearish pressure persists.
The current price of XRP is around $2.27, down 5.5% on the day. The price structure is trapped in a descending triangle, a pattern that typically favors the bears when it breaks lower. Technical support levels at $1.83 are crucial, followed by a long-term bottom at $0.78. A decisive breakout could lead to increased volatility and deeper declines.
The Relative Strength Index (RSI) currently stands at 31.65, deep in bearish territory, while the Money Flow Index (MFI) confirms that capital outflows are outweighing inflows. These trends indicate waning buyer interest and continued selling activity, putting additional pressure on the XRP price. If this trend continues, XRP could retest the support at $1.91 before attempting a meaningful recovery.
In the long term, some analysts remain optimistic about XRP’s broader performance. Historical overlays of XRP price cycles show similar rejection and accumulation patterns around previous all-time highs. In previous cycles, such accumulations were often preceded by a strong parabolic rise. If history repeats itself, XRP could build a base for a larger move once accumulation ends and momentum changes.
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