XRP The price of the coin has fallen by up to 6 percent in the last 24 hours, falling to the lower threshold of the three-week range of $ 2.20–2.70. While technical analysis indicators point to a weakening of short-term momentum, investors’ focus is on the upcoming death cross formationIt was converted to . The formation shows that the 50-day simple moving average (SMA) is about to fall below the 200-day average and this intersection will occur for the first time since May.
Death Cross Danger Approaching for XRP
death crossIt is known as a formation that shows short-term price momentum falling below the long-term trend and generally signals the beginning of downtrends. of XRP price chartThe formation of this technical signal in the market causes investors to be more cautious against selling pressure. Especially Bitcoin 
$104,050.19 and weakness in the rest of the market is increasing the pressure on the altcoin. It is predicted that if the 50-day average falls below the 200-day average, technical investors may accelerate their risk aversion tendency.
$[mcrypto coin=”XRP” currency=”USD”] – XRP Coin ChartMarket data shows that if XRP falls below the $2.20 level, there may be a risk of a deeper correction. Analysts agree that short-term recoveries may remain limited. altcoin‘s volume movements also support the downward trend. This indicates that the possible sales wave is not over yet.
MACD Indicator Gives Negative Signal
Another factor contributing to the negative picture on the technical front is MACD indicator. On the daily chart of XRP, the MACD histogram is approaching the negative zone, indicating a possible bearish crossover. This signal of the indicator strengthens the expectation that a new weakening phase may enter in price momentum.
Analysts point out that the simultaneous negative signal of the death cross and the MACD is usually a strong bearish indicator. RippleThe technical weakness of XRP, used in ‘s cross-border payment infrastructure, could shake investor confidence in the short term. As the market-wide risk aversion trend continues, it may become difficult for XRP to find permanent support in its current range.
CryptoAppsy Data reveals that Ripple’s altcoin changed hands at $2.27, down 5.67 percent in the last 24 hours at the time the news was being prepared.
