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Home Technical analysis XRP

TD Buy Trigger Could Cause XRP To Rip Against Bitcoin

Tony Spilotro by Tony Spilotro
5 months ago
in XRP
Reading Time: 3min read
xrp bitcoin xrpbtc
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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.

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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
Tags: altcoinbitcoinbtcbtcusdcryptoRippleTD SequentialxrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. 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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