XRP Denies Death Cross as Price Suddenly Jumps 8%

News Thu, 14/11/2024 - 15:50 Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News XRP , the popular cryptocurrency, is back in the spotlight on the crypto market, with its price action grabbing the attention of many. Today, XRP saw its price climb over 8% and reach a peak of $0.75 - its highest level since July 2023. The price movement is pretty impressive, but what is really interesting is what is happening with the patterns on the XRP price chart. Related Thu, 11/14/2024 - 12:37 XRP Price Prediction for November 14 Denys Serhiichuk The thing is, the cryptocurrency had been bracing for a potential "death cross" on its daily chart. This technical signal happens when a short-term moving average, like the 50-day, crosses below a longer-term moving average, like the 200-day. HOT Stories XRP Denies Death Cross as Price Suddenly Jumps 8% "Bitcoin Is Going Ballistic", Michael Saylor Says As BTC Holds Above $90,000 BTC Creator Satoshi Nakomoto Now 19th Richest Person in World: Report Elon Musk’s Dogecoin Tweet Drives DOGE Army Nuts With Excitement It is usually seen as a bearish indicator, meaning it suggests that the price could go down. The market was keeping a close eye on the 50-day moving average, which had been on a downward trend and was on track to cross below the 200-day moving average. Advertisement Source: TradingView Fortunately, the death cross has now been avoided thanks to a shift in the trajectory of XRP's price . The 50-day moving average, which was on its way down, has started moving up again recently. This change suggests that the downtrend may have been halted, at least for now. Related Thu, 11/14/2024 - 09:06 Bizarre XRP Price Candle: What's Happening? Arman Shirinyan For XRP, this reversal in momentum is seen as a positive sign, especially after such a strong rally, with prices adding 40.5% since the beginning of November. The recent surge in value has not only helped to cancel out the looming death cross but has also gotten people enthusiastic about whether this positivity could continue. #XRP #XRP News #Ripple News #XRP Price Analysis