XRP is flashing red this Tuesday morning with a long-term price indicator turning bearish for the first time in over a year.
At press time, the third-largest cryptocurrency by market capitalization is currently trading at $0.2955 on Bitfinex, representing a 1 percent drop on a 24-hour basis. More importantly, however, the 50-day moving average (MA) of XRP’s price has crossed below the 200-day MA.
That is the first “death cross” or a long-term bearish crossover since April 2018.
Technical analysis theory considers the death cross as an advance warning of a major…
Author: Omkar Godbole