XRP Forms First Dead Cross of the Year... Indicating oversold conditions

A dead cross has formed on the XRP chart for the first time this year, reports Yutoday. XRP's 50-day simple moving average (SMA) broke below the 200-day SMA, marking the first dead cross since September 2023. However, dead crosses are generally considered a lagging indicator, meaning that the token may already be oversold. Moreover, XRP dead crosses have historically occurred during the bottoming phase.