XRP Price Charts First ‘Death Cross’ Since April 2018

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XRP is flashing red this Tuesday morning with a long-term price indicator turning bearish for the first time in over a year.At press time, the third-largest cryptocurrency by market capitalization is currently trading at $0.2955 on Bitfinex, representing a 1 percent drop on a 24-hour basis. More importantly, however, the 50-day moving average (MA) of XRP’s price has crossed below the 200-day MA.That is the first “death cross” or a long-term bearish crossover since April 2018.Technical analysis theory considers the death cross as an advance warning of a major sell-off. In reality, however, the crossover is the result of a major price slide – the MA studies are based on historical data and tend to lag price.This is evident from the fact that XRP fell from $0.52 to $0.28 in 3.5-weeks to July 16 and the bearish crossover has happened today.Put simply, the long-term MA crossovers are lagging indicators and…

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