- XRP faces bearish pressure after death cross against Bitcoin.
- Resistance levels near 0.000024 BTC limit XRP’s upward movement.
- Bitcoin dominance grows, leaving XRP vulnerable to further declines.
XRP has recently triggered a death cross against Bitcoin, with its 23-day moving average dipping below the 200-day moving average. This technical formation is traditionally viewed as a bearish signal in the crypto world. XRP’s trading pair with Bitcoin now stands at 0.00002247 BTC, while Bitcoin is valued near $111,000 and XRP’s price is hovering at $2.49 in dollar terms.
This shift follows last week’s volatile market action when XRP/BTC dropped sharply to 0.000013 BTC before recovering. Although the dip was brief, the chart now shows that rallies in XRP’s price are struggling to break through resistance, which has formed near the 0.00002400–0.00002500 BTC range.
This scenario is reminiscent of 2022 when the death cross persisted for months, showing a prolonged downtrend in XRP’s price. However, the current market backdrop appears even more challenging. Bitcoin’s dominance in the market has strengthened significantly, and the liquidity of altcoins like XRP is lower.
Additionally, the liquidation of positions has left XRP vulnerable, with the coin’s order books exposed. If the downtrend continues, XRP could pull back further, potentially dipping into the mid-0.00001800s. Such a move could push the dollar value of XRP below $2, assuming Bitcoin remains strong above six figures.
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XRP Faces Tough Resistance at Key Levels
XRP holders might feel a sense of relief after the recent price spike, but the underlying technical structure points to potential difficulties ahead. The death cross indicates that any recovery will likely face heavy resistance, with most of these price rebounds running into trouble.
XRP’s price at $2.49 might seem stable, but this is misleading. The moving averages show that the market sentiment is shifting toward a bearish trend. If buyers fail to push XRP past the current resistance, the path forward for the token could be more challenging.
Source: Tradingview
Bulls will need to make a decisive move to break above the key averages, or else the market will remain under Bitcoin’s control. Until that happens, XRP will likely continue to follow Bitcoin’s lead rather than lead the charge itself.
The technical indicators suggest that XRP’s rally potential is limited unless a significant price move takes place. The market remains on edge, and traders are closely watching the developments in both Bitcoin’s dominance and XRP’s ability to overcome these resistance levels.
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