The cryptocurrency market is abuzz with concern over XRP as a significant bearish signal, known as the "death cross," looms on its technical charts. This indicator, coupled with other concerning metrics and ongoing whale activity, paints a challenging picture for the popular altcoin, pointing to potential further downside in the near term.
The Looming 'Death Cross' Threat
A critical technical indicator signalling potential downward momentum for XRP is the impending "death cross." This bearish crossover occurs when the 50-day Moving Average (MA) crosses below the 200-day MA, a configuration widely watched by analysts and media. While it had not yet materialized, the article highlights that XRP's price slide was pushing it dangerously close to this significant bearish event. Such a crossover is typically interpreted as a strong signal for a sustained downtrend, potentially deepening investor fear.
Compounding Bearish Signals and Price Targets
Beyond the "death cross," several other technical indicators reinforce the pervasive bearish sentiment surrounding XRP. The Chaikin Money Flow (CMF) registered a negative value of -0.06, indicating heavy selling pressure. Similarly, the Awesome Oscillator displayed strengthening bearish momentum with persistent red bars below the zero line for nearly a month. The Accumulation/Distribution (A/D) line also showed consistent lower highs, further confirming the dominance of sellers. This technical weakness was exacerbated by significant whale activity, with large holders offloading 900,000 XRP tokens within just five days, adding to the selling pressure and contributing to the altcoin's struggle to break past the key $2.7 resistance level. Analysts are now closely watching support levels, with potential targets for a continued slide at the $2 psychological level, followed by $1.9, and possibly as deep as $1.61, unless bulls can decisively reclaim the $2.7 mark to shift the market structure.
