The potential “Death Cross” formation on the XRP hourly card could not confirm by providing XRP owners with hope.
The cross of death shows a bear gear when the shorter official mobile average, usually 50-period, exceeds the long-term moving average, such as 200 periods. In the case of the XRP, this pattern seemed to be formed on the hourly card, caution among the traders.
However, the stinged momentum dissipated. Instead of falling further, the XRP was in its lesson in the SMA 50 and 200 very narrow trading ranges to $ 2.20 and $ 2.22 respectively. Such pricing shows consolidation, which is often considered a period of indecision that precedes the potential cut in both directions.
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If the cross of weak death remains on the hourly card, the lower outbreak is lower for the bulls hoping for a setback. Traders are now looking for catalysts that could move within the current range of XRP.
What happens next?
XRP is now consolidating its hourly card within a very tight range, which shows that traders are waiting for stronger market tips before taking action. This low -volatility condition can expect a greater gear, although it is not known whether the breakthrough favors bulls or bears.
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Turning to the daily chart, the XRP fell for two days in a row, reaching the lowest $ 2.124 before recovery on April 30. The XRP once again brought in -minded Daily SMA 50 at a higher price of $ 2,191.
During the press, the XRP grew slightly by 0.06%over the last 24 hours, reaching $ 2.23; The positive sign is that the price of the XRP was 50 years old. The next few days, the XRP pricing around Daily SMA 50 will be watched.
If the XRP price is decisively over the daily SMA 50, it may be approached next to $ 3. On the other hand, if the sales pressure returns, the XRP can support between $ 2.10 and $ 2.00.
