XRP hovers near $1.30, faces risk of 30% drop after bearish crossover

XRP remained near $1.30 on Thursday, as technical signals suggested the cryptocurrency could face a renewed sell-off toward the $1 mark. The token struggled to build upward momentum despite recent announcements from Ripple , the US-based blockchain company behind XRP, aimed at attracting more institutional involvement. A bearish crossover was recorded last week when XRP’s 20-day exponential moving average (EMA) dropped below its 50-day EMA. This shift in short-term momentum indicated growing weakness in the recent trend and increased the risk of additional declines if bearish sentiment persists. Crypto analyst ChartNerd highlighted that this technical formation echoed a similar crossover earlier this year, when XRP fell from about $1.40 to below $1, representing a drop of roughly 30%.

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