XRP traded near $1.13 on July 5, according to crypto.news market data. The token fell 1.04% over 24 hours but remained up 7.79% in seven days. Its market cap is close to $70.26 billion, while the 24-hour volume was around $1.67 billion.
Summary
- The current price of XRP near $1.13 keeps the token below the key $1.20 weekly average.
- A weekly death cross can turn the 200-week SMA from support to resistance for the future.
- Crypto.news analysis maintains $1.10, $1.20 and $1.40 as important levels for XRP traders.
The price remains close to an important technical area after a short break in the $1 area. XRP bounced back above temporary support, but did not recover the higher resistance area near $1.20.
A post from ChartNerd warned that XRP is close to printing the weekly death cross of the 20 EMA and 200 week SMA. The analyst said that the 200-week SMA near $1.20 may turn from a support area into a supply ceiling.
That level is now important because the price is always below it. A weekly close above $1.20 would weaken the bearish case. Failure to seek it may also keep sellers out of business during future rallies.
The weekly death cross keeps traders on their toes
A death cross occurs when the short moving average falls below the long moving average. In this case, the focus is on the 20-week EMA and the 200-week SMA.
A signal does not guarantee a rapid decline by itself. It shows that the medium-term momentum has weakened compared to the long-term trend. Traders often watch how the price reacts after the cross appears.
ChartNerd said “the 200-week SMA ($1.20) now has the potential to move from historical base to asset ceiling.” The analyst added that XRP needs to recover that area to reject the bearish setup.
The commentator also brought up two previous examples. In 2022, XRP made a low just after the same signal. In the bear market of 2018 to 2020, the last decline came months later after repeated failures near the 200-week SMA.
The daily chart shows a temporary recovery
The daily chart of XRP/USDT is still showing a broad downtrend, with lower highs from May to the end of June. The token recently bounced from the lower Bollinger Band near $1 and bounced back above the middle band.
The latest candle is red near $1.1325, indicating a pullback after a retracement. The price sits between the middle Bollinger Band near $1.1064 and the upper band near $1.2094.
A hold above $1.1064 keeps the short-term recovery alive. A drop below that level would weaken the bounce and return to the $1.00 to $1.03 area focus.
The MACD is improved, with the MACD line above the signal line and a positive histogram. However, both lines remain below zero. That means momentum is stabilizing, but the broader trend hasn’t fully reversed.
Source: TradingView
Crypto.news data keeps $1.20 in focus
Crypto.news reported on July 3 that XRP rose to a three-day high after a European Ripple expansion and a new Supertrend buy signal. The report said XRP went from around $1.02 on July 1 to intraday highs near $1.11.
A separate crypto.news analysis said XRP needs to recover $1.20 to $1.25 to support a strong rally. It also set $1.10 as a key support level and warned that broader weakness could bring $0.90 and $0.80 back into view.
The same report said a monthly close above $1.40 would help ensure a strong double bottom case. Until then, XRP remains in a cautious position, even after the recent rally.
At the time of publication, traders are watching three levels. XRP should hold $1.10 to protect a short-term bounce, pull back $1.20 to weaken the death warning, and clear $1.40 to advance a major structure.
