XRP, the native cryptocurrency of the Ripple protocol, has among one of the worst reputations in the crypto space, despite enjoying longevity in the top ten cryptocurrencies by market cap.
Despite recent poor performance leading to the asset being knocked out of the number three spot, a trio of buy signals appearing on XRP price charts could lead to a much-needed recovery for Ripple investors.
Continued Negative XRP Price Performance May Finally Come To An End
XRP continues to set low after low and remains one of the crypto market’s worst underperformers for over two years running.
The crypto token often called Ripple due to its association with its parent company, was recently knocked out of the number three rank in the top ten cryptocurrencies by market cap. Tether, a stablecoin pushed Ripple below it in rank following a recent crypto market collapse.
Related Reading | It’s Official: Tether Flippens Ripple After Recent Crypto Crash
Sentiment surrounding the altcoin is at an all-time low, with many of the asset’s most dedicated supporters capitulating and finally throwing in the towel on hoping for a new rally.
Not even the Ripple’s annual Swell conference bringing top minds from the finance world together was able to create any positive momentum.
All that may soon come to an end, however, as a set of three buy signals have appeared on XRP price charts after last night’s weekly candle close.
Ripple To Rebound? TD 9 Buy Signals Strike USD and BTC Pairs
All eyes have been on Bitcoin as the first-ever cryptocurrency consolidates ahead of what many crypto investors expect to be a massive move.
Right under their noses, however, XRP may finally be ready for extended upside.
Related Reading | Powerful Ripple Fractal Points To Redemption Rally, Start of New Uptrend
The TD Sequential indicator designed by Thomas Demark is among the most reliable tools across the cryptocurrency market for spotting potential reversals ahead of any breakout.
This highly reliable indicator that called Bitcoin’s recent top on weekly timeframes, has given not one, not two, but three buy signals on the asset known to many as Ripple.
On daily timeframes, both XRPUSD and XRPBTC are exhibiting the “9” buy setup. On weekly timeframes, said to be even more significant, there’s also a “9” buy setup.
The XRPUSD trading pair is working on a 12 count currently on the TD Sequential indicator. 9 and 13 counts are signals that prompt traders to take action, or watch for a potential reversal.
With multiple timeframes already at a 9 buy, and a 13 setup looming within the next week, this could finally be Ripple’s shot to soar.
Previous breakouts in XRP have lead to enormous rallies, bringing the asset from under a penny, to over $3. Another breakout after so long being held back by resistance could lead to fireworks.
Upside targets reach as high as $14 per token for the now fourth-ranked crypto asset by market cap.