Golden Cross Loses Its Shine: XRP Crashes Below $3 Amid Market Turmoil

XRP's bullish promise evaporates as technical indicators flip bearish.

The so-called 'golden cross'—that hallowed chart pattern traders swear by—just got trampled. XRP nosedived below $3 today, leaving crypto permabulls scrambling for explanations. Remember when everyone said this was the signal? Yeah, about that...

Market watchers cite everything from whale dumping to SEC fatigue for the plunge. Meanwhile, retail bagholders are left staring at charts like medieval peasants deciphering goat entrails. Classic crypto: where 'technical analysis' often just means 'finding patterns in the wreckage.'

Will XRP reclaim its glory? Maybe—if you believe in miracles, TA voodoo, or both. Until then, hodlers might want to practice their deep-breathing exercises.

News Background

• XRP fell from $3.14 to $2.97 in under 24 hours, posting its steepest pullback since July.
• Whale buyers added 440 million XRP even as retail traders dumped holdings.
• A symmetrical triangle pattern has formed, with a breakout target near $3.90 if resistance clears.
• Broader crypto markets saw correlated weakness amid rising risk-off sentiment.

Price Action Summary

• XRP lost 5.41% in the 23-hour window ending August 18 at 08:00.
• The heaviest selling came between 01:00–03:00, with $3.08 to $2.97 collapse on 172 million volume.
• Final hour saw muted recovery attempt, lifting XRP from $2.97 to $2.98.
• Trading halted in the last four minutes of the session, suggesting closure or data disruption.

Technical Analysis

• Resistance is clustered at $3.08–$3.14, the zone that capped recovery attempts.
• Support has shifted to $2.96–$2.97, where whales absorbed supply.
• A symmetrical triangle points to $3.90 upside target if $3.26 breaks.
• Golden cross emerged last week, but the signal has yet to trigger follow-through.
• Volatility remains elevated, with $0.18 intraday range and 163% spike in volume versus averages.

What Traders Are Watching

• Whether whales continue absorbing dips NEAR $3.00 support.
• Breakout or rejection at $3.08–$3.14 resistance zone.
• Impact of halted trading in final minutes — market glitch or structural weakness.
• Continuation of broader market selloff or stabilization.
• Confirmation of the triangle breakout toward $3.90 or breakdown below $2.96.