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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

TD Buy Trigger Could Cause XRP To Rip Against Bitcoin

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
xrp bitcoin xrpbtc

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Created by industry experts and meticulously reviewed
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Bitcoin has recently been picking up steam, stealing some of the capital and thunder from the DeFi trend and Ethereum. XRP, however, continues to lag behind both top crypto assets and linger sideways.

According to the Bitcoin trading pair, however, Ripple could soon rip against the leading cryptocurrency by market cap and catch up against Ethereum after long trailing behind.

TD 9 Buy Setup Prepares Ripple For Recovery Against Bitcoin And Ethereum, Revenge Against Tether

Believe it or not, there was once a time when XRP had unseated Ethereum as the number two cryptocurrency by market cap. Now, even stablecoin Tether has printed enough market cap to put it ahead of Ripple, making now the fourth-ranked cryptocurrency.

At the height of Chainlink’s parabolic run this summer, it had also beaten XRP moving it further down the top ten cryptocurrencies by market cap. If XRP doesn’t catch up soon, investors could lose hope and capitulation could set in.

xrpbtc td9

TD 9 Buy Setup Triggered On TD Sequential Daily | Source: XRPBTC on TradingView.com

But the return of Ripple could soon finally be here, according to the XRPBTC trading pair and a buy setup triggered by the TD Sequential technical indicator. The signal, is widely used across the crypto space and known for its undeniable accuracy.

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

However, it’s not the only sign that things could soon turn around.

xrpbtc bollinger bands

Daily Bollinger Bands Doji Reversal Potential | Source: XRPBTC on TradingView.com

XRPBTC About To Blast Off If Downtrend Line Retest Holds, Bollinger Bands Rebound

Coinciding with the TD 9 buy setup triggering on daily timeframes, XRPBTC is forming a doji at the bottom of a short- and medium-term downtrend, just as it closed outside of the bottom Bollinger Band.

Past doji closes back into the Bollinger Bands have resulted in at least some upside following. Many instances resulted in strong reversals.

xrpbtc daily downtrend

Retest of Downtrend Resistance Turned Support | Source: XRPBTC on TradingView.com

Zooming out, XRPBTC also seems to be retesting a breakout of its long-term downtrend resistance line as support. If Ripple can hold against Bitcoin here, the recovery could finally follow.

Related Reading | Underdog Story: Why XRP Could Soon Outperform Bitcoin And Ethereum

XRP has been trading around the $0.25 range for almost all of 2020, potentially building up pressure for a massive move both against dollar and the top cryptocurrency by market cap. If it does as it has in the past, Ripple moves fast and furious, and it could reclaim any of the top spots above it in a flash, except for perhaps Bitcoin.

Featured image from Deposit Photos, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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