The popular cryptocurrency XRP could be facing a serious 50% crash from recent prices. Like all of this market, it is not set on stone, but at least such a possibility shows the cross pattern of death formed in the XRP price list over a two-day time frame.
What happened was that the 23-day moving average exceeded the 50-day moving average from top to bottom, forming the cross of death.
Given this, the price of XRP will fall, and looking at the charts, the chances of a decline could reach 50%, and the 200-day moving average could serve as a potential for support.
Additionally, this price curve is currently growing at $1.11, but XRP is just below the $2.30 level. TradingView“>
It is worth noting that in other major time frames things aren't that bad for the third largest cryptocurrency.
For example, in the daily time frame, the XRP's 200-day moving average is $1.66, 26.27% below its current price. On the weekly chart, XRP prices have recently tested its 23-day moving average for around $2, seeing a big bounce of 18.84%.
On the one hand, the two-day time frame is rather exotic and further research may be required to determine specific conclusions.
Meanwhile, XRP still appears to be fairly weak in other time frames at this point, with the fixes not as serious as 50%, but there is still room for falling.
