XRP’s Failure to Clear Death Cross Raises Doubts About $0.65 Price Rally 🩸📈👇👇
Ripple (XRP) price retreated from $0.64 to $0.52. However, the token has since surged to $0.54, suggesting that XRP may be overcoming the hurdles to the upside. 🔥
With momentum fading and technical indicators showing weakness, XRP’s path to $0.65 now looks uncertain. Unless the token can reverse this bearish pattern and reclaim key support levels, the chances of a sustained rally are steadily diminishing.
On October 5, the 20-day exponential moving average (EMA) — shown in blue, on the daily chart of XRP — fell below the 50-day exponential moving average (EMA) in yellow. This situation, known as a death cross, is a bearish pattern that typically signals continued downtrend pressure. 🔥
What factors are affecting the price of XRP recently?
The factors affecting the price of XRP include declining momentum and weak technical indicators, as well as sellers resisting any price rallies.
Can XRP surpass the $0.65 level soon?
A break above the $0.65 level seems uncertain at the moment unless the token can reverse the bearish trend and reclaim support levels.
What are the key indicators for the future price of XRP?
The indicators include trading volume, resistance at $0.55, and the impact of investor psychology on the price. 🔥$XRP
