XRP Death Cross Complete: Key Price Levels to Watch

XRPXRP+0.65% Completes a Technical Death Cross Pattern

If you are following XRP, you might have noticed a shift in its chart patterns. A classic technical signal known as a death cross has officially formed on the daily chart.

A death cross happens when a short-term moving average crosses below a long-term moving average. In this case, XRP's 50-day moving average slipped below its 200-day moving average near $1.37.

XRP currently trades around $1.30, sitting noticeably beneath both moving average lines. Many market observers view this setup as a sign of softening momentum.

A Look at XRP's Recent Price Trend and Momentum

The long-term trend numbers highlight the pressure on XRP over recent months. The token has dropped about 15% over the past 30 days, 29% since the start of the year, and 48% over the past 12 months.

Past performance of digital assets is not a guarantee of future results. For live market data, visit bitkub.com/th/market/XRP.

A recent attempt to bounce higher stalled near $1.40, where multiple moving averages cluster together as resistance. In addition, the 100-day moving average near $1.33 is acting as a ceiling.

Trading activity has slowed down significantly since the surge seen back in August. Lower trading volume indicates that buying enthusiasm is relatively quiet right now.

Meanwhile, the Relative Strength Index (RSI) stands around 40. This reflects weak market strength, though the token has not reached oversold levels yet.

Key Support and Resistance Levels to Watch

Traders are monitoring conditional price scenarios to map out potential future moves. Keep in mind that technical levels depend heavily on overall market conditions and sentiment.

Potential Support Levels

The first major floor sits at $1.25, a level where buyers stepped in twice recently. If selling pressure increases and the daily price closes below $1.25, the price could test $1.20 and then $1.15.

If broader market weakness continues, the next major psychological level is $1.00, which provided solid support during August.

Potential Resistance Levels

On the upside, XRP needs to reclaim $1.33 first to build upward momentum. Above that, the key barrier remains between $1.37 and $1.40.

If buying volume enters the market and pushes a daily close above $1.40, it would weaken the death cross signal. Under that bullish scenario, XRP could aim for $1.50 and potentially its October high of $1.65.

Derivatives Data Shows Heavy Bullish Positioning

Data from major futures platforms shows an interesting imbalance. Long-to-short ratios on Binance and OKX remain above 3, meaning most derivative traders are betting on a price rise.

High numbers of long positions during a downtrend can carry risks. If prices dip suddenly, these positions can face forced liquidations, accelerating downward moves.

Over a recent 24-hour window, bullish long positions made up most of the $7.25 million in total liquidations. Futures flows also showed net capital outflows over recent four-to-eight-hour periods.

Summary for XRP Market Watching

Overall, short-term technical indicators lean in favor of sellers. Buyers will likely need a clear breakthrough above $1.40 to change the broader technical outlook.

Until then, the $1.25 support level remains the key line to watch. As always in crypto trading, market conditions can shift quickly, so staying informed and cautious is key.