$XRP Price Reacts to Bearish 'Death Cross' Signal $1.77 or $1.27
A death cross happens when a short-term moving average, usually the 50 SMA, falls below a long-term moving average, typically the 200 SMA, signaling potential downward pressure. XRP recently displayed this bearish pattern on its four-hour chart, leading to a price dip to $2.02 in the hours that followed.
However, XRP bulls quickly stepped in, reversing the decline. XRP surged to $2.19 in the early Tuesday session, defying bearish expectations. At the time of writing, XRP is trading at $2.15, marking a 6% increase over the last 24 hours.
If the rebound is sustained, the daily SMA 50 at $2.39 remains a key level for XRP to reclaim. When this is achieved, XRP would once again target $3. On the other hand, a break below $2 might cause XRP to complete a bearish head-and-shoulders pattern. There is modest support at $1.77, but if that level is broken, XRP might fall to $1.27.
