XRP Plunges as Death Cross Flashes Red—Traders Brace for Impact

Another day, another ominous crypto chart pattern. XRP just triggered a death cross—that dreaded moment when the 50-day moving average slices below the 200-day. Textbook bearish signal, but let's be real: since when do crypto markets follow textbooks?

Price action looks ugly. The 'digital asset for banks' now trades like a penny stock—volatile, unpredictable, and hemorrhaging trader confidence. Yet the true believers still cling to visions of institutional adoption. Good luck with that while traditional finance treats crypto like a contaminated hazmat suit.

Will this death cross play out like 2018's 80% bloodbath? Or is it just another fakeout in an asset that thrives on proving analysts wrong? Either way, grab your charts and popcorn—this could get messy.

XRP’s Death Cross Sounds Alarm for Traders

This technical pattern, known as the “death cross,” was confirmed with Monday’s candlestick on most trading platforms. The slipping of the 23-day average under the 50-day average reveals a loss in short-term market momentum. Clearly observed on the daily chart, this crossover accentuates the decline from the $3 level. While active traders keep a close watch on the charts, such formations are known to initiate cautious pricing behaviors.

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In recent weeks, the inability to surpass the $2.35 resistance has diminished buyers’ confidence. Daily data shows a weak recovery as prices slid from $2.27 to $2.22 overnight, entering the new session. Sellers are on the lookout for opportunities while buyers remain hesitant, resulting in directionless and low-volume movements.

Critical Support Levels and Potential Scenarios for XRP Coin

Analysts identify the $2.20 – $2.18 range as a short-term defensive zone for XRP coin. If this support falls, prices may decline towards $2 or even the high $1.90s, a range where demand previously rebounded. In such a decline, short-term traders and those with Leveraged positions would be most affected.

In the altcoin world, a strong momentum is not anticipated until a daily close above $2.35 is achieved. Despite the 200-day moving average maintaining its upward trend, long-term Optimism persists but does not negate the necessity for more cautious trading strategies. As prices near a decision point, trading volume and news flow seem likely to determine the direction.