XRP falls behind Bitcoin in Death Cross Move, but bounces off?

XRP will be under pressure against Bitcoin, after recently confirming a death cross in his daily diagram, a bearish technical signal in which the sliding 50-day average exceeds below the sliding 200-day average.

XRP has tried to win against Bitcoin in dynamics and did not meet the current rise of the latter, which on May 22, the largest cryptocurrency sent to new all-time high of around $ 112,000. Since May 14, XRP has marked 10 of the last 12 days at BTC.

In its USD pairing, XRP remains between $ 2.65 and $ 2 between $ 2.65 and $ 2, whereby neither bulls nor bears have gained a lead and contribute to his doldrums against Bitcoin in the short-term charts.

While the short -term downward trend keeps the dealers on the edge, some technical indicators can indicate reverse signals.

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The relative strength index (RSI) in the daily XRP/BTC diagram is now approaching the oversized area (typically below the level of 30), which indicates that the sales pressure could be exhausting and a back rash is imminent.

While the Daily table shows weakness, the weekly XRP/BTC diagram has formed a golden cross, a bullish counterpart to the Cross of Cross, which in the long run offers hope for bulls. This occurs when the 50-week sliding average exceeds the sliding 200-week average, which is often regarded as a signal for long-term strength and a potential trend reversal.

Cryptom market in red

The wider cryptom market fell in the early Sunday session with a liquidation of 210 million US dollars according to COINGLASS data.

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At the cryptomarkt, the weekend after a rally was entered profitably in the past week, with the large coins fell. Bitcoin's price fell after reaching a new all-time high of almost $ 112,000.

At the time of the letter, the XRP was 2.09% to $ 2.3 and 4.31% weekly in the last 24 hours. Bitcoin stood almost 107,000 US dollars after an intra -raday decreased to lows of $ 106,750 and had dropped by 1.03% to $ 107,597 in the last 24 hours.

The feelings of the market are careful because investors rate macroeconomic and technical indicators to decide the next step.