XRP might print major signal in day or two
, the fifth largest cryptocurrency by market capitalization, is about to print a major signal. In a day or two, the moving averages will be making a crossover, which might set the tone for XRP's next move.
XRP might face its first death cross in 2023 after printing a golden cross earlier in the year. The last time XRP saw a bearish death cross formation on its chart was in December 2022, after which the price hit a bottom at $0.29.A death cross occurs when the moving average of 50 falls beneath the daily moving average of 200. Hence, traders might pay attention to the nature of the crossing of the moving averages.
Moving average crossovers, either death or golden crosses, on the other hand, should not be considered the Holy Grail of the market. Because they use backward-looking data, some market experts regard these as lagging indicators.As stated earlier, the nature of the crossover of the moving averages might dictate the next price direction. A death cross, in theory, might imply further selloff. In the
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