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Home Cryptocurrency news

XRP To Moon? Critical Buy Signal Flips For Only Third Time During Bear Market

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin, Ripple
Reading Time: 3min read
xrp crypto ripple bitcoin
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The native cryptocurrency of the Ripple protocol, XRP, was among the worst-performing crypto assets to the top ten by market cap throughout 2018 and 2019. It’s among the few altcoins that closed the calendar year at a price lower than it started at.

However, XRP’s woes could be soon coming to an abrupt end, if a massive rally is triggered by a recent buy signal – a signal that has only appeared just three times on XRP weekly price charts since the bear market first began, and Ripple fell from over $3 per XRP token to current levels under a quarter.

Moonshot? TD9 Triggers Buy on Weekly XRP/USD Price Charts

XRP was among the top-performing cryptocurrencies of the altcoin boom during the crypto hype bubble of 2017, experiencing multiple, thousand percent suggest bringing the price of the number three cryptocurrency to an all-time high of $3.84 per token.

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Related Reading | XRP Kicks Off Another Year Of Decline With Potential Bear Pennant Breakdown 

Following the high on weekly XRP/USD price charts, a sell signal was triggered using the TD9 Sequential indicator created by market analyst Tom Demark. The sell signal saw XRP price fall from the all-time high to just 45 cents within two months – a staggering 88% drop.

xrp usd price chart

Now, just over two years later, that same signal on weekly timeframes has flipped buy. The chart below demonstrates that the same signal triggered two other times during the last two years of downtrend, and while each did produce a short-lived rally, downtrend resistance proved to be too much and a retracement occurred.

But the third time could be a charm, especially after two years of selloff. At this point, sellers could be exhausted, and an uptrend could form from here, especially with XRP/USD price charts on weekly timeframes exhibiting the important buy signal.

XRP/BTC Sequence Reaches 8, Ready for Liftoff With Next Weekly Candle?

The TD9 Sequential indicator was designed by Thomas Demark to follow a unique sequence before a signal is triggered. The sequence is a series of nine candles, with price action higher or lower than the initial 1 candlestick.

xrp btc price chart

Adding more credence to the theory that the third-largest cryptocurrency is ready for a massive breakout against the US dollar, XRP/BTC weekly price charts are currently on candle 8 of a 9-candle sequence.

Related Reading | Ethereum, XRP Set For More Devastation According to BTC Dominance 

After the next weekly close, unless Ripple already breaks out before then and goes on a powerful rally, XRP/BTC will trigger a 9 “buy” signal on weekly timeframes. If it breaks out against USD first, while the signal won’t trigger, there won’t be a need as Ripple will likely already have lifted off to the moon once again.

Featured image from Shutterstock, Charts from TradingView
Tags: Rippletd9 sequentialxrpxrp btcxrp usd
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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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