With a decline of over 4% throughout the day, and slipping to around $2.32, XRP has confirmed a key technical signal on the chart known as the death cross. Such a crossover occurs when the 50-day moving average falls below the 200-day moving average — a pattern often taken as a sign that buying momentum has weakened.

Now visible on the daily time frame, this ominous crossover validates the recent price pullback. Though XRP showed strength earlier this month by pushing above $2.50, recent sessions have seen constant selling, and today’s candle is about to end in the red. The price of XRP is now just above a key zone near $2.20, making this level critical short-term support.

There are a bunch of indicators that are lining up here. First, there is the rising trendline that has been around since early April. Next, it is the horizontal support from the prior consolidation. 

On top of that, the moving averages are sitting just above the current price. There has been no break below this zone yet, but pressure is building, and the next few sessions may test whether bulls are still willing to defend it.

Unless the $2.20 level holds, there is a risk that the alternative cryptocurrency could slide further toward the $2 or $1.85 levels, areas where longer-term buyers stepped in previously. For now, bullish sentiment remains in place, even with the death cross now confirmed. That could change, however, unless a strong reversal occurs soon.

To see an upside recovery and neutralize the current weakness, it is likely that XRP would need to regain the $2.40-$2.50 area. Otherwise, the short-term bias remains tilted to the downside.