Ripple (XRP) investors beware: “Death Cross” is on the way!

#Ripple (XRP), which crypto investors expect to rise, is giving a bearish signal with an important metric formed on the price chart.

According to the price analysis made by UToday, the XRP price passes below the 50-day moving average and the 200-day moving average. The chart in question creates a bearish formation called the “Death Cross”. The analysis warned that selling pressure may increase and XRP may break downward.

A formation known as the “Death Cross” or “Death Cross” has formed on the Ripple ($XRP ) chart. It stated that the formation may soon be completed with a negative result.

UToday, who examined the #XRP chart, said: “Historically, this formation, when combined with other bearish indicators, has resulted in a significant price drop.”

Struggling to maintain potential support points, XRP is trading at $ 0.55. The instability in the price chart and the lack of signals for an increase are noteworthy.

The analysis stated that if the “Death Cross” formation occurs, the price could fall below $ 0.50.

UToday, which made a statement saying “XRP may face downward pressure accompanied by regulatory challenges and volatility in the cryptocurrency market,” called on investors to be cautious.

Ripple Labs, known as the company behind XRP, is strategically delaying a payment ordered by the court. Days before a large payment is due to be made, Ripple requested the court to suspend the decision.

Lawyer James K Filan said: “Ripple submitted a letter requesting the suspension of the monetary portion of the court order issued on August 7, 2024. The #SEC found the request for postponement appropriate.”

It is thought that #XRP , which is in a legal battle with the SEC, the number one regulatory body in the US, may remain under pressure for a while longer.