XRP Price News: Death Cross Risk Builds as Ripple Token Plunges 6%

XRP has plunged 6% to $2.25, marking a significant break below a multi-month ascending trendline, which has intensified bearish momentum in the cryptocurrency. This decline coincided with the sale of approximately 900,000 XRP by whale wallets over five days. Observers note a looming death-cross setup, where the 50-day moving average approaches the 200-day moving average, suggesting further negative price pressure. The drop in open interest by 15% indicates that traders are unwinding leveraged positions, highlighting that this sell-off was driven more by strategic trading than panic among retail investors. The next critical level to watch is the $2.20 support which, if broken, could lead to further declines below $2.00. Volume surged considerably during the recent price movements, reflecting active trading during this downturn. As traders monitor these developments, they are particularly focused on whether $2.20 will hold as a support level and the potential confirmation of the death-cross setup.

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