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XRPThe fourth-largest cryptocurrency has fired its first bearish signal this year, with a death cross appearing on the cryptocurrency's hourly chart.
A death signal, which occurs when the 50-hour moving average crosses below the 200-hour moving average, indicates potential downside momentum. This development comes amid a widespread market sell-off that saw $482 million in liquidations over the past 24 hours, according to CoinGlass data.
The death cross pattern on the hourly chart of XRP is the first of its kind in 2025. This may indicate that short-term bearish pressure may be building after the bullish momentum at the beginning of 2025.
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Previously, XRP showed bullish signs, with golden cross patterns appearing on the hourly and 4-hour charts. A golden crossover occurs when the 50-period moving average crosses above the 200-period moving average, indicating potential upward momentum. However, the recent formation of a death cross on the hourly chart raises concerns about XRP price momentum in the short term.
Has XRP price bottomed in the short term?
the Death cross The index's track record as a predictor of bear markets is mixed. Moving average crossovers cannot be relied upon as independent indicators because they rely on backward data and tend to lag prices. The market is often oversold and set to see a recovery by the time the crossover is confirmed. If this is the case, the market will be watching closely Ripple price Looking for signs of a possible recovery.
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XRP has seen mixed price action since the start of the week, with two out of five days in the green since Sunday.
XRP is currently trading lower, hitting lows of $2.23 during today's session. At the time of writing, the price of XRP is down 3.32% over the past 24 hours to $2.25 and is down 7.49% weekly.
The good thing is that the bulls have held above the SMA 50 daily support at $2.176, which remains a positive sign. A break above $2.50 could lead to a new high towards $2.72 and then $2.90.
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