XRP Price Death Cross Signal and Selling Pressure

The XRP price started the week with a %5.1 drop, falling to $2.41. Increasing selling pressure and whale transfers raised concerns among investors, highlighting the fragility of the market. XRP, which dropped from $2.54 to $2.41, lost value due to technical selling and transfers from large wallets. Trading volume caught attention by exceeding the daily average by %46.

The price movement occurred without a macroeconomic trigger, breaking through technical levels. The transfer of over one billion dollars' worth of XRP between wallets associated with Ripple raised questions among investors. On-chain data shows that these transactions were not exchange-related, but their timing negatively affected market psychology.

The XRP spot ETF process also stands out as an important development. Although Tennessee-based Canary Capital is in the process of filling out the required 8-A form for its XRP spot ETF application, this news was not enough to alleviate selling pressure on the price.

From a technical perspective, whether XRP can maintain the $2.39–$2.41 band will determine the direction of the upcoming process. Although the price briefly recovered to $2.418 at this level, as long as it fails to maintain above $2.47, the technical outlook will remain weak.

Analysts note that the formation of the "Death Cross," with the 50-day average approaching below the 200-day average, suggests that caution should be exercised in the short term. The RSI indicator, hovering near the oversold territory, indicates a possibility of a short-term recovery, but falling below $2.35 increases the likelihood of a decline to the $2.20–$2.25 range.

Regaining the $2.47 level for XRP is seen as a critical threshold for reducing current technical pressure and beginning short-term stabilization.