XRP is now facing a technical setup that could spell serious trouble for the bulls. There is a "death cross" forming between the 23-day and 200-day moving averages, and history shows that this often leads to big drops.
Right now, XRP is trading at just over $2.20, but it is really up in the air. If the death cross is confirmed over the next few sessions, market watchers may want to brace for a retest of the $2 level — or worse.
This setup is not just a technical detail. The last time the 23-day MA crossed below the 200-day MA was in October 2024, and it led to a quick 10% drop over three trading days.
But it gets heavier. Back in February, the 23-day MA crossed the 50-day, and XRP started dropping like a rock over the next two months, losing almost 32% of its value. In May, a bearish crossover between the 50-day and 200-day averages happened right before an 11% correction over two weeks.
If this latest crossover is confirmed, it looks like we are in for a repeat of that behavior.
On the daily chart, XRP is having a hard time holding support, just above a busy area near the $2 mark. The volume is down, and it looks like the market is playing defense. If the price dips below this key level, it could lead to a deeper slide toward the $1.85-$1.90 support band, which is visible from March's price structure.
If XRP does not manage to break north of the cluster of resistance between $2.26 and $2.32 soon, a $2 breakdown may become more than just a technical risk — it may be inevitable.
