Bitcoin's Rival, XRP, Exhibits Bearish Signal: Predicting Future Trends
In the world of cryptocurrencies, the past 10 days have seen a significant event for XRP investors - a "death cross" on the XRP/BTC hourly chart. This technical pattern, which occurs when the 50-hour moving average crosses below the 200-hour moving average, is often seen as a bearish signal for near-term momentum.
This bearish trend was amplified by intense selling pressure in the broader crypto market, leading to liquidations exceeding $976 million and a sharp XRP price drop of about 12% against Bitcoin, from 0.00002962 to 0.00002598 BTC within hours.
However, despite this bearish signal, analysts observe signs of resilience in XRP's price. After hitting a low near 0.00002517 BTC, XRP rebounded quickly, indicating a short-term support zone and a possible temporary correction rather than a definitive trend reversal.
On the USD side, XRP dropped from around $3.55 to $3.05 during the selloff but recovered partially to $3.21 afterward, with the relative strength index (RSI) still around 59, suggesting there is room for price stabilization or a recovery.
The recent drop in XRP could be a shakeout and not indicate a reversal until clearer signals emerge. However, there are several positive factors that suggest this may be a temporary dip rather than a sustained downtrend.
Firstly, XRP's network activity remains strong, with 2.59 million daily transactions recently recorded, indicating robust usage despite price weakness. Secondly, institutional buyers, often referred to as "whales," have accumulated over 280 million XRP tokens in the past 10 days, which may underpin demand at current levels and mitigate further downside.
Moreover, XRP maintained an upward trajectory versus Bitcoin from July 6 to 17 before hitting resistance around 0.00003070 BTC. This suggests that XRP's upward trend was strong before encountering resistance, which is a positive sign for potential future growth.
In conclusion, while caution is warranted given the death cross and market pressure, the current analysis favors a temporary correction with signs of a potential recovery against Bitcoin if buying interest continues to hold. The recent rebound from the low of $2.96 could be a sign of this potential recovery.
[1] CoinGlass data [2] Crypto analyst Ali [3] Ripple CEO statement [4] NBA legend Scott Pippen's price prediction for XRP in 2026
- Despite the bearish signal from the XRP/BTC death cross and the intense selling pressure in the crypto market, the resilience in XRP's price, strong network activity, and institutional buying suggest that this could be a temporary dip rather than a sustained downtrend in the crypto market.
- The recent accumulation of over 280 million XRP tokens by institutional buyers, also known as "whales," could underpin demand at current levels and mitigate further downside in the XRP market.
- Analysts and institutional investors are watching XRP's upward trajectory against Bitcoin from July 6 to 17 before hitting resistance as a positive sign for potential future growth in the crypto market.
- With strong network activity, institutional buying, and a notable upward trend against Bitcoin, crypto traders, investors, and analysts may consider XRP as a potential investment opportunity in the current market, especially given the recent rebound from the low of $2.96.
