XRP May Explode After Major Buy Signal Triggers on Monthly Price Charts

Tony "The Bull" Severino

1 year ago

3 mins read

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

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

After months of consecutive decline and downtrend, XRP may be finally ready to stage a full recovery.

The third-largest cryptocurrency by market cap has triggered a very important and accurate buy signal on monthly timeframes – the first time the signal has appeared throughout the entirety of the bear market thus far.

XRP Monthly Price Chart Triggers TD 9 Buy Signal

XRP, the altcoin known commonly as Ripple, has maintained its third-most rank in the cryptocurrency market, even despite the altcoin being among the asset classes’ worst performers two years running.

All that negative performance has resulted in months and months of downtrend and price decline. However, the decline caused a specific sequence of candles to form that signal that a reversal could be near, and that the asset is currently a “buy.”

XRP/USD price charts have triggered a TD 9 “buy signal” on the TD Sequential indicator, created by market timing specialist Thomas Demark.

Demark has created dozen or so indicators with a similar focus on predicting market timing, an area where the analyst is widely respected and well known.

Demark’s TD Sequential indicator has been used across all financial markets and asset classes to accurately predict future price movements.

The TD Sequential indicator works across any timeframe, but as is the case with most indicators, the highest timeframes often have the most significant impact on overall trends.

Ripple Has Much Lost Ground to Recover in Any Potential Rebound

XRP is currently down by over 95% from its all-time high set over two years ago at $3.58.

The altcoin recently fell to as low as ten cents at the current bottom set this past March, when Bitcoin and the rest of the crypto market collapsed at the hands of the coronavirus.

A monthly buy signal on an especially battered and beaten altcoin asset could suggest that buying now leads to the greatest possible financial opportunity.

After over two years of selling, investors who wanted to sell have had plenty of chances to do so, and if the latest shakeout wasn’t enough to break even the strongest of hands, any remaining XRP investors are likely in it for the long haul and firmly believe in the future of the financial technology.

Only time will tell if this monthly buy signal is accurate like many other TD 9 signals, and helps pick XRP up and out from the depths of the bear market and back into a sustained recovery. If XRP is able to finally regain some bullish momentum, those that buy now based on this latest signal could be well rewarded.

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.

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.