XRP Golden Cross Fizzles, Bears Maintain Market Grip

XRP recently faced a technical letdown as a much-anticipated golden cross failed to materialize, keeping bearish momentum firmly in place. The cryptocurrency’s recent price action disappointed traders hoping for a bullish breakout, as hopes for a trend reversal were invalidated by broader market dynamics and muted investor activity.

A golden cross typically occurs when a short-term moving average crosses above a longer-term one, usually signaling the potential for an upward trend. Earlier this week, XRP appeared poised for one, briefly igniting optimism within the Ripple community. However, market data eventually signaled otherwise. As the short-term moving averages faltered, the prospect of significant upward momentum vanished, underscoring the continued dominance of bearish market sentiment.

Technical indicators are currently showing strong resistance within the $2.14 to $2.19 price range. The latest patterns reflect a death cross setup involving the nine-day and 21-day moving averages — a bearish signal that suggests the price is likely to remain pressured over the short term. This technical formation reinforced resistance around the $2.20 level, making it difficult for XRP bulls to take control of market direction.

In the most recent trading sessions, XRP briefly edged above the $2.20 level and hit a peak of $2.23. Despite this breakout attempt, the cryptocurrency’s gains were short-lived due to weak follow-through momentum. At press time, XRP is trading at approximately $2.16, marking a daily decline of 1.09%. The absence of sustained buying enthusiasm underscores the market’s skepticism about XRP’s near-term bullish potential.

Adding to the pressure is a dip in trading volume. Over the past 24 hours, XRP’s trade volume decreased by 3.81%, falling to around $2.6 billion. For market sentiment to shift, a significant spike in volume would be necessary to drive a decisive move above the $2.20 level. Without meaningful volume growth, XRP is unlikely to test the higher resistance zones near $2.30 to $2.35.

Despite the current bearish indicators, XRP holders are showing resilience. Market data indicates that more than 80% of XRP investors remain profitable, which reduces the likelihood of panic selling at this stage. This relative stability among holders could help support the asset’s price and prevent deeper declines.

Moreover, the Ripple ecosystem continues to reflect strong fundamentals. Activity on the XRP Ledger remains consistent, and transaction volume is holding up across its network. Should there be a spike in network engagement or a notable increase in demand, such movements could pave the way for a potential recovery in XRP’s market performance.

For now, the market remains cautious. Bulls must overcome several hurdles to regain control, starting with reclaiming and sustaining the $2.20 resistance level. Only then can further targets in the $2.30 range come into play. Until such a breakout materializes, XRP remains encased in a bearish pattern, and traders are advised to monitor volume trends and moving averages for early signals of any upcoming shift in momentum.

Related: Expert Advice: Sell XRP If You’re Confused

While technical conditions currently favor the bears, the underlying strength in XRP’s investor base offers a cushion that could spur a turnaround — once favorable conditions return. For now, however, Ripple’s token continues to do battle with resistance zones and a market that remains hesitant to bet big on an immediate reversal.