XRP confirms Death Cross: What happens at $ 2.20?

With a decline of over 4% during the day and around 2.32 US dollars, XRP has confirmed an important technical signal on the table as a death cross. Such a crossover occurs when the sliding 50-day average falls below the sliding 200-day average-a pattern that has often been taken as a sign that the purchase dynamics are weakened.

This threatening crossover is now visible in the daily time frame and confirms the recent loss of prices. Although XRP showed strength at the beginning of this month due to the strength of over 2.50 US dollars, the latest sessions were constantly sold, and today's candle is about to end the red. The price for XRP is now just above a key zone near $ 2.20, which supports this level at short notice.

There are a number of indicators that are facing here. First, there is the increasing trend line that has been around since the beginning of April. Next, it is the horizontal support from the previous consolidation.

In addition, the moving average values ​​are just above the current price. There was still no break under this zone, but it builds up and the next sessions can test whether bulls are still ready to defend it.

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If the level of USD does not apply, there is a risk that the alternative cryptocurrency could continue to push to the level of $ 2 or $ 1.85, areas in which long-term buyers previously occurred. At the moment the bullish feeling remains, even if the death cross has now been confirmed. However, that could change unless a strong reversal will soon occur.

In order to recognize an upward trend and neutralize the current weakness, it is likely that XRP would have to regain the area of ​​$ 2.40 to $ 2.50. Otherwise, the short -term distortion remains inclined to the bottom.