A critical signal for XRP! Is a new breakout approaching?

XRP exhibited a closely watched death cross on its hourly chart this week, raising concerns among investors following intensified selling pressure. The technical move unfolded as the 50-period moving average slipped below the 200-period moving average, a classic sign of short-term weakness. As a result, XRP declined for four consecutive days from Tuesday to Friday, falling as low as $1.11 during this slide.1.29 dollar emerges as a pivotal resistance in the short termSecurity and infrastructure work continues for XRPLRipple announces investment in Flutterwave 1.29 dollar emerges as a pivotal resistance in the short termXRP began recovering from $1.09 on June 11, climbing as high as $1.29 by June 15. However, the rally proved short-lived, and sellers took control once the price reached the region aligned with the daily 50 moving average. Much of last week’s gains were ultimately erased as a result.XRP has repeatedly failed to break past the $1.29 level, which coincides with the daily 50 moving average since mid May, making this region critically important for near-term price action.At present, XRP appears to be trading in a narrow band between $1.05 and $1.29. According to data cited in the report, the price rose by 1.24% in the past 24 hours to reach $1.14. The upturn followed a wave of buying across the broader crypto market, lending support to XRP’s bounce.Should the upward momentum continue, a decisive breakout above $1.29 could spark a new recovery phase for XRP. In such a scenario, the first key target would be $1.54—the level marked by the daily 200 moving average—followed by a potential challenge of the $2 barrier. Alternatively, if the decline resumes, the $1 threshold stands out as the next major support zone. IndicatorLevelRecent low$1.11June 11 level$1.09June 15 high$1.29Main support$1.05Additional support$1Main resistance$1.29Security and infrastructure work continues for XRPLBeyond the price swings, recent developments have unfolded within the technical ecosystem around the XRP Ledger (XRPL). XRPL, developed by Ripple, serves as an open source blockchain network for payments and asset transfers. Announcing a new partnership, Common Prefix revealed it would collaborate with the RippleX team on broader security initiatives encompassing Lending Protocol and Single Asset Vaults on XRPL.Mini glossary: Lean4 is a formal proof language used in software and mathematical verification processes. The goal is to logically validate the critical components within the Lending Protocol, reducing the risk of possible errors.Common Prefix has stated that it will be working alongside RippleX to formally verify critical Lending Protocol components on XRPL using Lean4.In addition, this week saw the release of xrpld software version 3.2.0, a maintenance-focused update. The upgrade retired certain changes that had been active for over two years, maintained the modular structure of the libxrpl library, and officially replaced the “rippled” name with “xrpld” in accordance with XLS 0095 standards.The update also introduced a package named fixCleanup3_2_0, which addresses various bug fixes related to Single Asset Vaults, the Lending Protocol, permissioned DEX, Multi Purpose Tokens, and permissioned domain names.Ripple announces investment in FlutterwaveOn the corporate side, Ripple revealed it participated in Flutterwave’s Series E funding round. Flutterwave, a leading African fintech company, focuses on payment infrastructure and aims to make cross border transactions easier. The agreement is designed to promote the adoption of stablecoins in cross border payments.It was further announced that Flutterwave would integrate with Ripple Payments, with transactions being processed over the XRP Ledger blockchain. This development highlights ongoing progress in the XRPL ecosystem, even as recent technical developments create short term headwinds for the $XRP price.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.