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<ul>
 <li>XRP faces a pivotal moment with its daily 50-day SMA poised to cross below the 200-day SMA, signaling a potential bearish death cross.</li>
 <li>Despite historical instances of unreliable moving average crossovers, XRP has experienced significant rebounds following previous death crosses.</li>
 <li>Possible scenarios include a brief decline with a subsequent upward movement if a bottom is reached, targeting resistance levels at $0.70 and $0.75.</li>
</ul>
XRP stands at a decisive juncture as its daily simple moving averages (SMA) hint at an imminent crossover. The daily 50-day SMA appears on track to dip below the 200-day SMA, showing the possibility of a bearish death cross.
Following a recent market downturn leading <a href="https://www.tradingview.com/x/aqvZAA1V/" rel="noopener noreferrer nofollow">XRP</a> to reach a low of $0.496 on January 23, the cryptocurrency is now at a critical juncture. Despite a partial recovery to approximately $0.56, it continues to linger beneath key resistance levels represented by the 50-day SMA at $0.589 and the 200-day SMA at $0.587.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/HEyXrl8IQv7ZP8HSbsB5hu9NFqX9W5a6I37vsyM2xrRCL-NMzXyK-9QXvmpjzU2UJcVvaTEq-b37srza5E9X6zxgMj8WJPg7EGMZWfHrK_F0UFHL6LntCb2sZjpeDYSUDftba3DoWngN8CYyNdF9_h4" alt="">
</figure>
Source: TradingView
Despite historical instances where moving average crossovers proved unreliable as standalone indicators, there’s a noteworthy pattern for XRP. Previous death crosses have often marked major or intermediate bottoms, with the cryptocurrency experiencing rebounds shortly after. Notably, last September saw XRP bottom out at $0.483 shortly after a death cross formation, only to surge to highs of $0.75 in less than two months.
As XRP faces the possibility of a death cross, potential scenarios emerge. Should a bottom be established before a decline, XRP could target resistance levels at $0.70 and $0.75, potentially paving the way for a bullish reversal.&nbsp;
On the flip side, a death cross might trigger another wave of selling, with support levels at $0.483 and $0.476 acting as crucial demand zones. A break below $0.40 could confirm a bearish trend, exposing the price to the $0.42 level, untested since August 2023.
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The post <a href="https://cryptonewsland.com/xrps-decisive-moment-breaking-0-75-barrier-for-bullish-reversal/" rel="noopener noreferrer nofollow">XRP’s Decisive Moment: Breaking $0.75 Barrier for Bullish Reversal</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

XRP’s Decisive Moment: Breaking $0.75 Barrier for Bullish Reversal

Crypto News Land

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