XRP has experienced a notable decline after holding steady for nearly six months, dropping below a critical price point level against Bitcoin (BTC). The XRP/BTC daily chart now shows that XRP has closed under the 200-day moving average, a key technical indicator, for the first time since November 13, 2024. This marks a significant shift, as XRP had previously surged by 289% against BTC during the same period.
The current daily close stands at 0.00002237 BTC, slightly under the 200-day moving average of 0.00002245 BTC. This break beneath the moving average puts XRP in a weaker technical position and could signal a change in trend direction, depending on whether the downturn persists.
Short-term trends are also pointing downward. Both the 23-day and 50-day moving averages are now showing a descending pattern. If these curves continue to decline and cross below the 200-day moving average, traders could witness several “death crosses” in quick succession. In technical analysis, these crossovers are often considered bearish signals.
Since February, XRP has been experiencing lower highs and a gradual decline, consistently trading below its short-term moving averages. The recent dip below the 200-day average could confirm that XRP is entering a larger downtrend, unless it quickly rebounds.
Traders should monitor how XRP performs at this level in the coming days. A return above the 200-day moving average could alleviate some concerns, but if the downward trend continues, the market will likely seek lower support levels and watch for indications of stronger selling pressure.
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