XRP Faces Weak Momentum Despite Golden Cross Amid Altcoin Struggles

XRP’s recent golden cross, where the 50-day EMA crossed above the 100-day EMA, failed to trigger the expected bullish momentum. Instead of acting as a rally catalyst, the market largely ignored the signal, leaving XRP trapped in a descending wedge pattern. The token now risks further downside as it hovers just above the 100-day EMA—an important technical level that has acted as both support and resistance in the past.

Currently trading near $2.28, XRP shows signs of weakness across shorter time frames. Despite the technical formation, daily trading volumes remain low, and bearish candles continue to dominate. This price action suggests a cautious or disinterested market, disappointing bullish traders who hoped the golden cross would reverse the prolonged downtrend of lower highs and lower lows since March.

The Relative Strength Index (RSI) is sitting at a neutral 47, reflecting a lack of clear momentum. If the 100-day EMA support at $2.26 fails to hold, XRP could slide further to the $2.15 level. These bearish signs are compounded by Bitcoin's growing dominance, which typically drains investor interest from altcoins like XRP.

Historically, altcoins struggle to gain traction during such periods, even when bullish technical patterns emerge. Without a strong catalyst or significant improvement in Bitcoin’s stability, XRP may continue consolidating or face further declines. For a sustainable reversal, XRP needs breakout volume or growth in on-chain activity.

In summary, XRP’s mini-golden cross has proven insignificant in the current risk-off environment. Traders should watch for either a decisive move above resistance or a retest of lower support levels before any trend shift can be confirmed. Until then, caution remains the dominant sentiment.