As its price is approximately 7 % in the last day, XRP is exposed to massive market pressure. However, there is a bright point: the dreaded death cross has not yet. The death cross is generally a strong declining signal, and this occurs when the moving average for 50 days crosses without moving 200 days middle.
Since this artistic style has not yet appeared, this may be a sign that the market gathering was excessive or that the current declining trend is just a transient correction. The current technical preparation for XRP is out of promising, although it has managed to avoid the death of death.
The original is now approaching EMA for 200 days, which was historically as decisive support after losing important support levels. The low morale in the fast market is the result of the Buy the Dip strategy that does not produce the expected rest period.
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The losses get worse and the pressure pressure increases the strength instead of the intervention of buyers. The total state of the market is one of the main causes of XRP difficulties. The entire cryptocurrency market is witnessing a strong sale, as the appetite of risk and liquidity decreases. It is still unclear whether XRP is able to recover a great recovery until the buyers return or the seller wipe their positions.
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The lack of death provides some hope at the present time, but it does not change the fact that XRP is in an unstable position. Traders should not expect immediate recovery in order for the market to settle and sell pressure. Monitoring whether XRP can maintain its current range or whether the losses will continue to decline and pay prices to the least important matter.
