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XRP, the fourth-largest cryptocurrency, has shown its first bearish signal this year, with a death cross appearing on the cryptocurrency’s hourly chart.

The deadly cross signal, which occurs when the 50-hour moving average crosses the 200-hour moving average, indicates potential bearish momentum. The development comes amid a broad market sell-off that has seen $482 million worth of liquidations over the past 24 hours, according to CoinGlass data.

Hourly chart of XRP/USD, courtesy of TradingView

The deadly cross pattern on the hourly chart of XRP is the first of its kind to appear in 2025. This could indicate that short-term bearish pressure may build up after the bullish momentum in early 2025.

Previously, XRP has shown bullish signs, with golden cross patterns appearing on both the hourly and 4-hour charts. A golden cross occurs when the 50-period moving average crosses above the 200-period moving average, indicating potential upward momentum. However, the recent formation of a death cross on the hourly charts raises concerns about XRP’s short-term price momentum. Has XRP bottomed in the short-term? The death cross indicator’s track record as an indicator of bear markets is mixed. Moving average crosses are unreliable as independent indicators because they rely on backward-looking data and tend to lag prices. The market is often oversold and expected to rise by the time the cross is confirmed. If this is the case, the market will be closely watching XRP price for signs of a potential recovery.

XRP price has seen mixed movements since the start of the week, with two out of five days in the green since Sunday. XRP is currently trading lower, having hit a low of $2.23 during today’s session. At the time of writing, XRP is down 3.32% in the last 24 hours to $2.25 and down 7.49% on a weekly basis. The good news is that bulls have held above the 50-day SMA support at $2.176, which remains a positive sign. A break above $2.50 could spark a fresh rally towards $2.72 and then $2.90. #أخبار XRP

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