XRP Maintains $1 Mark Amid Bearish Technical Signals
XRP is currently trading around $1.00 after briefly dipping below $0.99 earlier in the session, rebounding above the key price level.
This marks the second time this month that XRP has narrowly avoided falling below $1, with buying pressure returning before the daily close each time.
The report notes that $1 is now the most important short-term support area for XRP, as it was the price at which XRP rebounded from in November 2024 and went on to reach a historical high of about $3.65.
From a technical perspective, XRP's daily chart has weakened, with its 50-day exponential moving average falling below its 200-day exponential moving average, forming the 'death cross' that typically indicates sellers dominating the short- to medium-term trend.
However, on the weekly timeframe, the 50-week moving average is still above the 200-week moving average, meaning the longer-term upward structure has not been completely broken, but it continues to converge and may be weakened if downward pressure persists.