XRP on Verge of 50% Death Cross Crash: Details

The popular cryptocurrency XRP may be facing a severe 50% crash from its recent price. While not set in stone, like everything in this market, at least such a possibility signals a death cross pattern that has formed on the price chart of XRP on a two-day time frame.

What happened is that the 23-day moving average crossed the 50-day moving average from above to below, forming a death cross – a bearish formation that is considered a grim event that precedes a price correction.

If we take this as a given, it could mean that the price of XRP will fall, and looking at the chart, it appears that the potential for a decline could be as high as 50%, with the 200-day moving average acting as a possible support.

And this price curve is currently stretched at $1.11, while XRP is trading slightly below the $2.30 level.

It is worth noting that on other major time frames, things do not look so bad for the third largest cryptocurrency.

For example, on the daily time frame, the 200-day moving average for XRP is at $1.66, which is 26.27% below the current price. On the weekly chart, the price of XRP recently tested the 23-day moving average at around $2 and saw a big bounce of 18.84%.

On the one hand, the two-day time frame is rather exotic and may need more study for the determination of a concrete conclusion.

On the other hand, XRP still looks rather bearish on other time frames at the moment, and while the correction may not be as severe as 50%, there is still room to fall.

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