XRP Death Cross Alert: XRP About to Fail Against Bitcoin Big Time

The XRP/BTC trading pair is currently flashing a significant technical indicator that suggests XRP may be losing traction compared to Bitcoin. A recent development on the daily chart has revealed a potential bearish pattern, signaling that XRP’s momentum could be tapering off. Death Cross Formation: A Bearish Signal A significant technical indicator is the emergence of a death cross. This occurs when a shorter-term moving average crosses beneath a longer-term moving average, often indicating a bearish shift. In this case, the 23-day moving average has dipped below the 200-day moving average, highlighting that XRP’s upward momentum might be losing strength. This crossover typically signals a downturn, hinting at potential challenges for XRP in maintaining its previous bullish stance. Source: TradingView Struggling at Bollinger Bands Resistance Adding to the bearish sentiment, XRP/BTC recently encountered resistance at the midline of the Bollinger Bands. Typically, this central band serves as a point of equilibrium, but XRP’s inability to break through indicates a struggle to regain higher ground. The failure to overcome this resistance level underscores the ongoing weakness in the pair, suggesting that XRP might continue to lag behind Bitcoin. Volume Fails to Support a Rebound Volume analysis further supports the notion of XRP’s waning strength. Despite an earlier price surge this month, trading activity has since cooled, with volume levels failing to surge sufficiently to back a bullish reversal. The candles on the chart are clustering just above the short-term support, indicating a consolidation phase rather than a strong recovery. This muted volume response hints that market participants may not be confident enough to fuel a sustained upward move. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 XRP Faces Uphill Battle The death cross and mid-band resistance indicate XRP’s growing weakness against Bitcoin, though an immediate collapse isn’t certain. For XRP to regain its footing against BTC, it must decisively break above the current resistance zone. If this doesn’t happen, Bitcoin may remain favored, and XRP could face a tough road ahead. The coming trading sessions will be critical in determining whether XRP can mount a comeback or continue to falter against its dominant counterpart. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Death Cross Alert: XRP About to Fail Against Bitcoin Big Time appeared first on Times Tabloid .

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