Sunday, June 4, 2023

XRP Price Signals to Enter “Death Cross” Mode Soon By CoinQuora


© Reuters. XRP Price Signals to Enter “Death Cross” Mode Soon
  • price is going to enter a new “death cross” in the next few days.
  • XRP’s 50-day SMA would fall dramatically below the 200-day SMA in the upcoming days.
  • Analysts see the XRP’s death cross movement to be a bearish market indicator.

Based on a closely watched XRP current price chart, XRP has set to form a “death cross” in five months. Looking at the behavior of the chart, crypto analysts have mentioned that the upcoming “death cross” movement of the XRP price could cause a bearish market.

In particular, the 50-day Simple Moving Average (SMA) pattern of the XRP’s price is predicted to fall below its 200-day SMA. In fact, analysts expect this downward trend of the XRP price to occur in the next few days.

On the other hand, the chart also suggests a deeper sell-off. In fact, the sell-off signals a clearer confirmation of the upcoming bearish death cross. Casting our mind back, there have been several death cross incidents over time.

Even the …

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