XRP dropped as much as 2% earlier today, cooling a rally that had carried it to $1.55. A death cross remains active on the daily chart, and the RSI is stretched to the upside, leaving the token's next move split between a push toward $1.5824 or a slide back toward $1.4342.
XRP dropped as much as 2% earlier today, cooling a hot streak that had pushed it toward $1.55. XRP is trading at $1.4554 on the daily chart, down from a $1.5505 high, in a recovery that still hasn't escaped a longer-term downtrend.
XRP's August surge cools
XRP had erased its most bearish signal last week and took off, gaining 46% over seven days and pushing its market cap above $91 billion. The move came as the crypto market flipped from fear to "extreme greed" this week for the first time since 2024.
The token ground lower from April through July, bottoming near $1.00 in early August before rallying roughly 55% to $1.55, with the Average Directional Index reading 44.8 — confirming the move as a strong directional leg rather than a weak bounce. Since then, the latest daily candle closed at $1.4554 after opening at $1.4818, the second straight down day.
A death cross still hangs over the chart
The 50-day moving average sits below the 200-day average, a formation traders call a death cross that keeps XRP's medium-term trajectory pointed lower. The signal is lagging, though — the August rally already lifted XRP above both averages before this pullback, which is why the recent strength didn't immediately flip the reading.
RSI reads 76.8, above the 70 threshold that marks overbought territory, a sign the recovery ran hot rather than a green light for further gains. That leaves the death cross intact, and the bounce risks resolving into a bull trap if the market rejects $1.55 again.
Where XRP goes from here
The bull case needs XRP to reclaim and hold $1.5507, then drive toward $1.5824 and $1.6227, a move that requires squeeze momentum to fire and the RSI to cool without the price breaking down. The bear case has XRP losing the $1.4342 floor and slipping back toward the early-August base, with a daily close below that level putting the $1.40 shelf and the $1.00 origin of the rally back in play.
Until XRP reclaims $1.5507, the base case points toward a drift to $1.4342 before the squeeze decides the next leg.
Source: Decrypt
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