XRP is currently detecting a Death Cross signal in threatening the $2 level. As the 23-day moving is showing signs of crossing below the 200-day Moving Average, investors' concerns are growing.
Currently, XRP is trading around $2.20, but forecwith projections suggesting it could drop fall $ level if the Death Cross is confirmed in the next few trading sessions.
This is not just a simple technical indicator. When the 23-day Moving Average crossed below the 200-day Moving Average on October 23, 2024, it dropped by 10% in just three trading days.
More notably, after the 23--day Moving Average crossed below the 50-day line on February 23, its value declined by 32% over two months. period. it 11% after in weeks after the downward cross of the 50-day and 200-day lines.
On the daily chart, XRP is barely maintaining its key support line near $2. With trading volume decreasing, the market is showing a defensive stance, and if this level breaks, it could fall to the support line of $1.$1..85-1.90 based on March prices.
If XRP fails to break through the resistance zone of $2.26-$2.32, the collapse of $2 could become inevitable beyond a mere technical risk.
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