XRP price action took a net slowdown In the last 24 hours to extend its seven -day losses. In particular, this slowdown has seen the asset Slide below a critical support level at $ 2.50 after weeks of intense work to break through. This rupture less than $ 2.50 opens the risk of a continuous fall to retain the next key support range between $ 2.25 and $ 2.30. In particular, the lowering feeling surrounding the asset is still reinforced by the technical analysis of the 4 -hour and daily cards indicating an imminent death cross.
Death is looming, signaling lower weakness
One of the most alarming developments in XRP is the imminent Formation of a death cross on the 4 -hour board. This death cross is revealed by an analysis From the price table on the TradingView platform, which shows that the 50-day mobile average is about to cross the 200-day mobile average.
The crossing of the 50 -day MA below the 200 -day MA is largely considered as a lower signal, because it suggests that the momentum moves in favor of bears. This means that the battle of power in progress between bears and bulls could now fall on the way of the Bears, which could fully extend the drop in prices and cause another price accident.
If the bears persist in their domination, the price of XRP could potentially rape Minor support levels at $ 2.30 and $ 2.25. If this level does not hold, it can fall to $ 1.91 and essentially erase all its earnings in the past two months. Altcoin is now struggling to maintain key structural models on the daily graphic, and a price of less than $ 1.91 could cause the invalidation of bullish pennants and triangles.
The XRP / BTC pair also flashes lowered signals
Beyond the USD pair, XRP’s performance against Bitcoin has also become negative. This is important, since Altcoin is one of the few active active people who have managed to outdo Bitcoin This cycle. The daily XRP / BTC graphic shows that XRP closed below its 50 days for the first time in almost three months. This indicates a change of trend and additional confirmation of the relative resistance index (RSI), which is now in a downward trend.
At the time of writing this document, XRP is negotiated at $ 2.43, down 3.26% in the last 24 hours and 21.66% stronger in last week. These losses, associated with weakened technical indicators, paint a cautious perspective for short -term Altcoin. However, the current dive could open Potential accumulation opportunities For investors.
If the Bitcoin price movement stabilizes above $ 100,000, the decrease in progress could trigger a renewal Accumulation between $ 2.4 and $ 2.5.
Adobe Stock star image, tradingView.com graphic
