Golden Cross Loses Its Shine: XRP Tumbles Under $3 as Bullish Signal Collapses

Another crypto 'sure thing' bites the dust.

The golden cross—that hallowed chart pattern that had traders dusting off their moon memes—just got gored. XRP plunged below $3 today, turning what looked like a textbook bullish setup into another cautionary tale for overleveraged dreamers.

Technical breakdown:

That 50-day moving average everyone was crowing about? Sliced through like warm butter. The 'bullish crossover' that was supposed to trigger a rally? Now just another jagged line on the wreckage of someone's margin position.

Market psychology flip:

Watch the permabulls pivot faster than a DeFi fork. Yesterday's 'accumulation opportunity' is today's 'failed breakout'—all without changing the underlying fundamentals (not that crypto traders ever cared about those).

Silver lining for masochists:

At least the drop saves us another round of 'XRP Army' spam. Small mercies.

Closing thought:

Nothing golden stays—especially not in a market where 'technical analysis' often just means 'finding patterns in the chaos while ignoring the VCs dumping on retail.'

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.