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XRP has formed a “death cross” against Bitcoin on the hourly chart, signaling potential downward momentum in its price action relative to BTC.
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This technical pattern coincides with significant market-wide liquidations exceeding $976 million, reflecting increased selling pressure in the crypto sector.
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According to COINOTAG sources, institutional investors have been accumulating XRP recently, with over 280 million tokens purchased by whales in the last ten days.
XRP’s hourly death cross against Bitcoin signals potential bearish momentum amid $976M market liquidations, while whale accumulation hints at possible recovery.
XRP’s Death Cross on Hourly Chart Signals Potential Bearish Momentum
The recent formation of a death cross on the XRP/BTC hourly chart marks a critical technical development. This pattern occurs when the 50-hour moving average crosses below the 200-hour moving average, often interpreted as a bearish indicator suggesting downward price pressure. Although hourly charts carry less weight than daily or weekly charts, they provide valuable early warnings of trend shifts. In XRP’s case, this suggests a weakening relative strength against Bitcoin in the short term.
Market Liquidations and Their Impact on XRP’s Price
The death cross emerged amid a broader market sell-off that triggered liquidations exceeding $976 million, according to CoinGlass data. Such substantial liquidations typically amplify volatility and can accelerate price declines. XRP’s price dropped sharply from 0.00002962 BTC to 0.00002598 BTC within hours, reflecting this intensified selling pressure. Additionally, XRP’s USD price fell approximately 12% during the same period, underscoring the widespread market weakness affecting altcoins.
Signs of Support and Potential Recovery Amid Volatility
Despite the bearish signals, XRP demonstrated resilience by quickly rebounding from a low of 0.00002517 BTC, indicating the presence of strong support at this level. This bounce suggests that the recent decline may be a temporary shakeout rather than a definitive trend reversal. Historically, XRP experienced a sustained upward trend against Bitcoin from July 6 to July 17, peaking at 0.00003070 BTC before encountering resistance. The current support zone could serve as a foundation for renewed upward momentum if buying interest persists.
Whale Accumulation and Institutional Interest Bolster Optimism
Market analysis reveals increased accumulation by large holders, commonly referred to as whales. Crypto analyst Ali reports that over 280 million XRP tokens have been purchased by whales in the past ten days, signaling institutional confidence. High trading volumes accompanying the recent price rebound further support this narrative, suggesting that investors are capitalizing on oversold conditions. Such activity often precedes price stabilization or recovery, providing a counterbalance to bearish technical indicators.
Conclusion
While XRP’s hourly death cross against Bitcoin highlights short-term bearish momentum, the presence of strong support levels and significant whale accumulation introduces a nuanced outlook. Traders should monitor these developments closely, as the interplay between technical signals and institutional buying will likely dictate XRP’s near-term trajectory. Maintaining vigilance on volume trends and price action will be essential for identifying whether XRP can sustain a recovery or face continued downward pressure.
