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2 min read
Breaking Signal·
XRP formed a death cross on the daily chart, with the 50-day moving average slipping below the 200-day moving average near $1.37. The token currently trades at $1.30, placing it below both technical indicators and signaling a shift in momentum.
Price Performance and Resistance
The recent price action reflects significant downward pressure. XRP is down approximately 15% over the last 30 days, 29% since the start of the year, and 48% over the past year. The most recent attempt to bounce failed near $1.40, a level where several moving averages have converged to form a resistance wall. Additionally, the 100-day average near $1.33 has transitioned into a resistance level, capping upside movement in the short term.
Trading volume has declined sharply since the surge observed in August, indicating a lack of strong buyer interest. The Relative Strength Index (RSI) sits near 40, a level that suggests weakness but does not yet indicate oversold conditions. This positioning implies there is still room for the price to fall before a technical bounce becomes statistically likely.
Support Levels and Derivatives Data
The first major support level is identified at $1.25, the recent low where buyers stepped in twice. A daily close below this threshold would open the path for further declines to $1.20 and subsequently $1.15. If selling pressure intensifies, the next significant support area is $1.00, a round number that held the price firm during the August rally.
On the upside, XRP must reclaim $1.33 to improve its technical standing. A clean close above the $1.37 to $1.40 zone would weaken the death cross signal and could direct price toward $1.50 and then $1.65, the October high. Bulls require a strong close above $1.40 to alter the current trend, which presently favors sellers.
Derivatives data presents a mixed picture. Long-to-short ratios on Binance and OKX are above 3, indicating that the majority of accounts are betting on a price increase. However, crowded long positions in a downtrend can be vulnerable to liquidation events. In the past 24 hours, longs accounted for the majority of the $7.25 million in liquidations. Futures flows have also shown net outflows over the past 4 to 8 hours.
Frequently Asked Questions
What is the current death cross level for XRP?
The death cross occurred near $1.37, where the 50-day moving average slipped below the 200-day moving average on the daily chart.
What is the next major support level for XRP?
The first major support level is $1.25. If the price closes below this level, the next support levels are $1.20 and $1.15, with $1.00 serving as a major support area.
