XRP (Ripple) Golden Cross Turns Into Death Cross – The Tradable

hopes diminish quickly. The once-promising scenario of the 50 EMA crossing above the 100 EMA has now dissipated. Currently priced at $2.24, XRP has experienced a slight decline of over 1% since the previous day, signaling potential trouble ahead. Though it continues to remain above the 200 EMA at $2.09, the inability to sustain itself above the 50 and 100 EMAs positioned at $2.25 is a cause for concern.

Furthermore, the absence of substantial trading volume to drive XRP’s value higher poses a significant obstacle. Rather than witnessing the anticipated golden cross, the cryptocurrency appears to be stagnating. The EMAs are showing signs of flattening, hinting at a possible reversal in their current trajectory. The looming threat of a death cross looms overhead, a scenario that traders dread and hope to avoid at all costs.

XRP (Ripple) Support Levels That Could Make or Break the Price

The current situation warrants close monitoring, as a significant correction may be on the horizon. Three key levels hold immense importance for XRP investors. Firstly, the convergence point of the 50 and 100 EMAs is critical. A daily close below this juncture could signify the end of the bullish trend in the short term.

Secondly, the $2.09 support level represented by the 200 EMA has thus far provided stability. However, a breach in this level could trigger intense selling pressure, prompting long-term investors to divest their holdings. Notably, the psychological barrier of $2.00 carries weight as a crucial threshold. Falling below this mark could signify a loss of bullish momentum and potentially trigger a sharp downturn in XRP’s value.

XRP (Ripple) Network Activity Tells a Concerning Story

While technical indicators offer valuable insights, on-chain data presents a disconcerting narrative. XRP’s network activity has witnessed a sharp decline, raising alarms within the cryptocurrency community. The significant drop in daily transactions, from over a million to 332,639 within a short period, reflects a dwindling utilization of the network.

The combination of weakening technical signals and declining real-world usage paints a grim outlook for XRP’s future. Urgent intervention is needed to reverse the current negative momentum. Without a substantial influx of buyers, the dream of a mini-golden cross may soon transform into the harsh reality of a death cross, bringing forth substantial repercussions for XRP investors.