XRP has completed a death cross on its two-hour, three-hour, and four-hour charts, indicating a potential downturn as the 50-day moving average falls below the 200-day moving average. This marks the fourth occurrence of the pattern this week, suggesting weakening momentum for the cryptocurrency. After peaking at $3.10 on October 2, XRP's price fell to a low of $2.773 on October 9 before slightly rebounding to $2.83, reflecting a 0.83% increase in the last 24 hours but a 6.85% decline over the week. The drop in XRP's price aligns with increased retail fear, uncertainty, and doubt (FUD) and broader profit-taking in the crypto market amid the U.S. government shutdown.
XRP Experiences Death Cross, Drops to $2.83 Amid Bearish Sentiment
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