Over the weekend, price action across the crypto market has stirred up some important technical signals. XRP,$XRP
in particular, is on the verge of flashing a textbook bearish indicator—the infamous death cross—while Bitcoin (BTC)$BTC
is testing a key support level after slipping below a short-term trendline.
Starting with BTC: Sunday saw Bitcoin drop around 1.5% (UTC), breaking down from a short-term trendline that had been holding since the April 9 and April 20 lows. That trendline had been acting as a strong support zone, so the breach could be signaling that the bounce from sub-$75K may be running out of gas. On top of that, BTC has dipped below the Ichimoku cloud on the hourly chart—another hint that the short-term momentum might be turning south.
Still, it's not all doom and gloom. If BTC manages to climb back above the cloud, that would invalidate the bearish setup and put a potential rally to $100K back in play. For now, though, I’m watching that $88.8K level closely—it’s shaping up to be the line in the sand.
As for XRP $XRP , the price has slid back under its 50-day simple moving average after a modest recovery from the April 7 lows. The real concern, though, is that we’re close to seeing a death cross—where the 50-day SMA crosses below the 200-day. That pattern is typically seen as a long-term bearish signal and could point to further downside if confirmed.
That said, death crosses don’t always lead to extended sell-offs; they’ve had a mixed track record in both crypto and traditional markets. But given XRP’s overall downward momentum since mid-January, it’s definitely something worth keeping an eye on.
Let me know your thoughts—are we bracing for deeper corrections or just cooling off before the next leg up?
