XRP trades at $1.34 as third death cross forms, EGRAG CRYPTO warns of volatility

XRP is displaying a familiar market structure on its weekly chart, according to cryptocurrency analyst EGRAG CRYPTO. The analyst reports that a potentially significant pattern involving the 50-week and 200-week exponential moving averages (EMA) has emerged, reminiscent of two previous cycles that led to substantial price recoveries for the token. EGRAG CRYPTO has identified a repeating sequence in XRP’s historical price movement, focusing on two previous instances when the 50-week EMA crossed below the 200-week EMA—an event traders call a “death cross.” These occurred between 2019-2020 and 2022-2023.

Source: CoinTurk News