XRP Defies Death Cross With Sharp Rebound Amid Market Turmoil

XRP surprised traders early Friday by rebounding despite flashing a classic bearish signal—the "death cross"—on its hourly chart. A death cross typically signals downward momentum when a short-term moving average, like the 50-hour SMA, crosses below a longer-term average, such as the 200-hour SMA. The pattern coincided with broader crypto market volatility that wiped out nearly $1 billion in leveraged positions.

After rallying for four consecutive days from May 31, XRP peaked at $2.28 on June 3, followed by profit-taking that dragged it down to $2.06 during Thursday’s session. The decline raised bearish concerns, but XRP quickly reversed course, catching short sellers off guard.

Despite the hourly death cross, XRP surged in seven of the last eight hourly candles, bouncing from intraday lows of $2.08 to reclaim the $2.18 level—down only 0.67% over 24 hours. Weekly performance turned positive as well, with a slight 0.02% gain, suggesting bulls are actively defending support levels.

The rebound came with a notable spike in trading activity. XRP’s 24-hour volume jumped 73.9%, reaching $3.5 billion, according to CoinMarketCap. This volume surge reflects renewed interest and strong buyer support.

Technical analysts are closely watching whether XRP can break above its key moving averages at $2.17 and $2.19, levels that could act as short-term resistance. A decisive move above these could signal continuation of the uptrend, despite near-term bearish indicators.

While the hourly death cross calls for caution, XRP’s resilience highlights strong bullish momentum. Market participants are now eyeing whether the rally has legs or if another reversal is on the horizon.