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Home Technical analysis XRP

A “TD9” Sell Indicator Triggers For XRP After 6 Weeks of Stagnance

Tony Spilotro by Tony Spilotro
6 months ago
in XRP
Reading Time: 3min read
A “TD9” Sell Indicator Triggers For XRP After 6 Weeks of Stagnance

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XRP continues to lag behind the rest of the market after a short-lived glimmer of hope brought prices to current levels in late July. And while crypto analysts expect the fourth-ranked cryptocurrency to outperform Bitcoin and Ethereum eventually, a sell setup has triggered on daily timeframes that could send Ripple ripping lower.

TD 9 Sell Setup Triggers On Daily XRP Charts After Barely Any Upside

There are hundreds of technical analysis indicators available to analysts and traders – some are new and custom; while others have been around for decades and were built by financial market icons.

One such tool, the TD Sequential indicator, is among the most accurate across all of crypto, created by market timing wizard Thomas Demark.

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Related Reading | XRP Up-Move To Leave Bitcoin And Tether Traders “Sidelined”

It has successfully sniped several Bitcoin tops and bottoms and works just as well in altcoins and traditional markets. The indicator gives a sell setup after a series of candle closes meeting a specific sequence of requirements.

xrp daily td 9

XRPUSD Daily TD Sequential "TD 9" Sell Setup Triggered | Source: TradingView

Typically, a sell setup comes after a string of upside. In XRP, however, there’s been just enough upside to trigger a TD 9 sell setup, but only barely.

Most of the price action in XRPUSD has been sideways on both the daily and weekly charts. The lack of a strong push higher has resulted in what is referred to as an “imperfect” setup.

Only when a higher high is set on the 8 or 9 candles, is the setup considered “perfected.”

Weekly Ripple Charts Shows A Slow Trickle Of Sideways Trading Range

Although there’s enough upside in daily price charts to trigger the sell setup, zooming out to weekly timeframes shows just how stagnant XRP has been trading.

There have now been a total of six weekly candles where the body of the candle closed within a 6% range. Typically, when assets trade sideways for an extended period of time, a large, decisive move results.

xrp weekly tight range

XRPUSD Weekly Tightening Trading Range  | Source: TradingView

A strong move to the upside would complete an inverse head and shoulders pattern on weekly timeframes, and begin forming an even larger right shoulder on monthly timeframes as well.

Related Reading | XRP: Three Heads Are Better Than One, But Could Mean No New ATH Until 2023

The one thing standing in the way, for now, is this TD 9 sell setup on the daily, which could very well be the start of a deeper correction. Due to the extended sideways, and imperfect sell setup, however, a move higher cannot be ruled out.


Featured image from Deposit Photos, Chats from TradingView
Tags: altcoincryptoRippleTD SequentialxrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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