According to the TD Sequential indicator, XRP, the contentious coin linked to blockchain company Ripple, is enjoying a positive signal.
The three-day chart for XRP showed a purchasing signal from TD Sequential, according to Ali, a well-known cryptocurrency expert on Twitter.
This could suggest an impending upward price trend, but to maintain the prospective upswing, the digital asset must trade over a particular price level.
The TD Sequential is a technical analysis technique that traders use to spot probable market reversals and price exhaustion. To determine whether an asset’s price is likely to continue on its present trend or reverse, a series of price calculations based on historical data and time series are used.
An upward trend might reverse from a negative trend if this indicator displays a purchasing signal. It should be used in conjunction with other tools for a thorough trading strategy, though, as it is not completely infallible like all trading indicators.
Ali emphasised that XRP must maintain a price above $0.45 in order for the anticipated upswing to occur. If this continues, it may increase to $0.51. More significantly, breaking past the $0.51 resistance level may result in a breakout that raises the price to $0.60.
XRP’s price is now trading at $0.47, which is within the defined range but needs to maintain above the critical $0.45 level to prevent a potential bearish drop.
XRP is one of the top cryptocurrencies by market capitalization, according to statistics from CoinGecko, with a market cap of over $24.98 billion.
The strong $662 million 24-hour trading volume reflects the asset’s high level of activity and interest.
