Bitcoin Battles for $88.8K Support After Trendline Shatters—While XRP Flirts With a Death Cross

Bitcoin’s latest breakout has traders glued to the $88.8K support level—a make-or-break zone after slicing through a critical trendline. Meanwhile, XRP teeters on the edge of a dreaded death cross, a classic bearish signal that’s got bagholders sweating.

Markets don’t care about your feelings, and neither does technical analysis. Whether this is the start of a bullish reload or just another fakeout, one thing’s certain: Wall Street’s ’risk managers’ will pretend they saw it coming either way.

The bearish hourly chart set up risks invalidation on renewed above the Ichimoku cloud, which would reinstate the bullish outlook for rise to $100K.

XRP’s recovery from April 7 lows has run out of steam, too, with prices falling back below the 50-day simple moving average (SMA).

More importantly, the 50-day SMA appears on track to cross below the 200-day SMA in what is known as the death cross long-term bearish indicator.

The impending death cross, against the backdrop of the overall downward trend since mid-January, raises the risk of a deeper sell-off. Note, however, that the death cross’ record in predicting price trends has been mixed in both Bitcoin and traditional markets.