Ripple-Linked Token Approaches ‘Death Cross’

XRP$2.2814 it fell 6% in 24 hours, closing at the lower end of its three-week trading range between $2.20 and $2.70.

The token is close to a bearish technical pattern known as the cross of death, where the 50-day simple moving average (SMA) is set to pass below the 200-day SMA for the first time since May. The death cross is a widely observed indicator that suggests short-term price momentum is weakening relative to the long-term trend, often seen as a precursor to more extended declines.

Although not always reliable on its own, the imminent death cross alongside broader market weakness – including bitcoin’s recent struggles – adds to the cautious sentiment around XRP, more so, as the MACD histogram on XRP’s daily chart teases a bearish crossover in a sign of renewed negative momentum momentum.

XRP is the payment-focused cryptocurrency that Ripple uses to facilitate cross-border transactions.