XRP Approaches Rare Death Cross Formation
- Technical Indicator Analysis: XRP's 20-week exponential moving average currently hovers between $1.39 and $1.40, and if the shorter-term average drops below the longer-term one, it would create a rare death cross, which historically has been associated with price rebounds ranging from 20% to 82.7%.
- Short-Term Recovery Potential: Although XRP is currently trading between $1.13 and $1.14, the convergence of technical indicators suggests a potential short-term rally of 25%, especially as the Relative Strength Index approaches the low-30s, indicating that downward momentum may be exhausting.
- Significant Short Liquidation Risk: Data reveals a substantial concentration of approximately $236.5 million in short position liquidations within the $1.37 to $1.40 price range, and if XRP begins to rise, short traders will be forced to buy back their positions, potentially driving the price closer to $1.40.
- Long-Term Price Targets: Analyst EGRAG CRYPTO's cyclical analysis framework indicates a best-case price target of $8.00 for XRP, with a conservative target of $5.70, based on historical growth cycles, suggesting the market may currently be in an accumulation phase with significant return potential ahead.
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Technical Analysis for XRP
Technical Sentiment Analysis for XRP (XRP). As of , XRP (XRP) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for XRP stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, XRP is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
XRP (XRP) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.824 | 0.917 | 0.999 | 1.092 | 1.174 | 1.267 | 1.349 |
| Fibonacci | 0.917 | 0.983 | 1.025 | 1.092 | 1.159 | 1.2 | 1.267 |
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