XRP Faces Death Cross on Hourly Chart as Trading Volume Rises 31%

utoday03-03 15:10

XRP has formed a death cross on the hourly chart as markets consolidate ahead of a major move.The 50 SMA on the hourly chart has fallen below the MA 200, indicating a "death cross." At the time of ...

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If this is done, XRP may rally to the 50-day SMA at $1.61 and, after that, to $1.70.On the other hand, if the XRP price turns down from current levels, it might indicate that the sideways trading may continue further. The bears might return to the driver’s seat on a close below $1.11, which clears the path for a drop to $1.Altcoins continue to struggleAltcoins continue to struggle within the crypto market — even more so since the Oct. 10 event.According to CryptoQuant, 38% of altcoins (alternative cryptocurrencies apart from Bitcoin) are near all-time lows, with the recent drop worse than the post-FTX period.Altcoins remain at historically weak levels as the trend across the market has remained fairly negative in recent months. Since early October, total market capitalization (excluding BTC and stablecoins) has experienced a drawdown.Currently, liquidity on the market remains thin, with investors remaining cautious. 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