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About 48 hours after confirming its first golden cross of 2026, $XRP has posted a reversal, with a death cross emerging on the technical chart. This has triggered a more than 3.95% price drop in the value of the coin within the last 24 hours.
$XRP death cross appears despite rising trading volume
CoinMarketCap data shows that although $XRP’s trading volume is in the green, the technical chart shows a death cross.
This signal has created massive selling pressure. Notably, a death cross occurs when a short-term moving average crosses below a longer-term average.
$XRP’s death cross places the coin within a tight range of $1.97 and $2.06. This suggests that $XRP might struggle to break above this range in the short term, except a bullish catalyst triggers a change.
As of press time, it is changing hands at $1.97, which represents a 3.85% decline in the last 24 hours. The coin plunged from a daily high of $2.06 to a low of $1.91 before its slight climb to the current level.
This uptick might have been supported by the high trading volume. Within the same time frame, $XRP’s volume has increased by 167.34% to $3.68 billion.
Liquidation imbalance wipes out $XRP traders
$XRP has left investors in confusion as, in the last 24 hours, it printed an 8,700% liquidation imbalance, with long position traders wiped out near $2 billion.
With $XRP slipping below $2 once again, even short-position traders are not spared the bleeding.
The current development has nullified that 12% spike in open interest registered by $XRP over the weekend.
$XRP traders had committed $1.4 billion on the future price outlook. Despite this bullish anticipation, the emergence of a death cross has nullified all bets on the asset.
In addition to price fluctuations, there are concerns over regulatory clarity, which has affected investors‘ sentiment. Although $XRP’s nonsecurity status is not in contention, institutional adoption for the long term remains a concern.