Saad Ullah
What looked like XRP's ticket to higher prices is now threatening to become a trader's worst nightmare, as the cryptocurrency's mini-golden cross setup crumbles before our eyes.
XRP (Ripple) Bulls Losing Steam as Technical Setup Falls Apart
XRP traders who were getting excited about a potential mini-golden cross are now watching their hopes fade fast. The setup that had the 50 EMA ready to cross above the 100 EMA? Yeah, that's not happening anymore.
Trading at $2.24 right now, XRP has dropped over 1% since yesterday, and frankly, it's not looking great. Sure, it's still hanging above that 200 EMA at $2.09, but here's the thing – it can't even stay above the 50 and 100 EMAs sitting at $2.25. That's a red flag if I've ever seen one.
The volume just isn't there to push this thing higher. Instead of that golden cross everyone was hoping for, we're seeing XRP get stuck in no man's land. The EMAs are starting to flatten out, and if this keeps up, we might actually see them flip the other way. Nobody wants to see a death cross, but that's exactly where this is heading.
XRP (Ripple) Support Levels That Could Make or Break the Price
Look, this isn't just some minor hiccup – we could be looking at a serious correction here. There are three levels every XRP holder needs to watch like a hawk.
First up is where those 50 and 100 EMAs are meeting. If XRP closes below this spot on a daily basis, the bulls are basically throwing in the towel. Game over for the short-term uptrend.
Then there's that 200 EMA support at $2.09. This one's been holding the fort, but if it breaks, expect some serious selling pressure. Long-term holders might start heading for the exits.
But here's the big one – that $2.00 psychological level. It's one of those round numbers that everyone's watching. If XRP can't hold above two bucks, it's basically screaming that the bulls have run out of juice. That's when things could get really ugly.
XRP (Ripple) Network Activity Tells a Concerning Story
The charts are one thing, but what's happening on-chain is equally worrying. XRP's network activity is basically falling off a cliff, and that's never a good sign.
We're talking about a massive drop in transactions here. Just a few days ago, XRP was processing over a million transactions daily – pretty impressive stuff. But then June 12 hit, and boom – down to just 332,639 transactions. That's a brutal decline that shows people aren't actually using the network as much.
When you combine weak technicals with declining real-world usage, it paints a pretty grim picture. XRP bulls better hope something changes soon, because right now, all the momentum is pointing in the wrong direction. Unless buyers step up in a big way, this mini-golden cross dream is about to become a death cross reality.
Saad Ullah
