XRP Defies Death Cross With Sharp Rebound Amid Market Turmoil 📈
XRP defied expectations by rebounding sharply on Friday, despite displaying a classic bearish signal known as the 'death cross' on its hourly chart. The death cross is generally seen as a downward momentum signal that occurs when a short-term moving average, like the 50-hour SMA, falls below a longer-term average, such as the 200-hour SMA.
This pattern appeared amid broader crypto market volatility, which wiped out nearly $1 billion in leveraged positions. After a four-day rally from May 31, XRP peaked at $2.28 on June 3, before profit-taking reduced its value to $2.06 during Thursday's session.
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