XRP Price Rebounds 6% After Death Cross, Eyes $2.39 Resistance

XRP, the fourth-largest cryptocurrency by market cap, rebounded 6% in the last 24 hours, defying a recent bearish chart pattern. The price dipped to $2.02 after a death cross—when the 50-period SMA crosses below the 200-period SMA—appeared on the four-hour chart. Despite this typically negative signal, XRP bulls quickly regained control, pushing the price to $2.19 during early Tuesday trading. At the time of writing, XRP is holding steady around $2.15.

The broader crypto market also showed signs of recovery, with altcoins attracting notable capital inflows. CoinShares reported $226 million in total inflows last week, including $4.8 million into XRP, signaling renewed investor interest. However, traders remain cautious, as XRP has posted losses in six of the last seven days, starting from March 24.

Technical indicators remain mixed. While the rebound is encouraging, some analysts question whether it's a sustained reversal or a “dead cat bounce”—a short-term rally before further declines. A successful break above the daily 50-SMA at $2.39 would be a bullish sign and could set the stage for a move toward $3. Conversely, failure to hold above $2 might lead XRP to complete a bearish head-and-shoulders pattern. Key support levels to watch are $1.77 and, if broken, $1.27.

In bullish fundamental news, Grayscale has filed with the U.S. SEC to convert its Digital Large Crypto Fund—which includes XRP—into a spot exchange-traded fund (ETF), potentially increasing institutional exposure to XRP.

XRP's near-term price direction will likely hinge on whether it can reclaim key technical levels and sustain positive momentum amid cautious market sentiment.