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XRP Buy Signal Confirmed? Here’s the ‘Major Catch’ You Need to Know

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XRP Buy Signal Confirmed? Here’s the 'Major Catch' You Need to Know


XRP continues to fight for $2.00 but can it soar to $2.50 soon?

Despite the positive developments around Ripple and the impressive inflows into the growing number of XRP ETFs in the US, the price of the underlying asset continues to disappoint and has yet to stage a notable recovery.

Now, though, popular crypto analyst Ali Martinez argued that XRP has finally flashed a bullish sign. According to his analysis, the TD Sequential has shown a buy signal, but only if XRP remains above $1.90, a level previously identified as significant in determining the asset’s future behavior.

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If it does hold above that pivotal line, XRP has the chance to rocket to $2.50. If the asset indeed heads to those levels, it would need to overcome three significant sell walls, according to CW, which are located at $2.10,  $2.15, and $2.25.

Recall that this $2.50 price tag was last observed just over a month ago, in the days ahead of the launch of the first XRP ETF – Canary Capital’s XRPC. Since then, the token has been in a free-fall state to the current $2.00 despite the nearly $1 billion in net inflows into the five ETFs and Ripple’s partnerships and regulatory approvals.

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Martinez has been quite active on the XRP scene lately. Before posting about the TD Sequential – a metric used to determine an asset’s exhaustion in either direction, he warned that Ripple’s cross-border token could plunge to $1.20 if the $2.00 support is decisively lost.

On a more micro scale, CryptoWZRD noted that XRP had closed “slightly bearish” even though it managed to recover most of the weekly losses. However, the analyst added that the asset needs to overcome the $2.10 resistance to turn bullish, otherwise it risks another price drop.

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