Ripple’s cross-border token has fallen roughly 15% over the past month and is currently trading around $1.30 (per CoinGecko).
Nonetheless, the emergence of one key signal suggests that a major rebound could be just around the corner.
Is This What Holders Waited for?
Popular analyst Ali Martinez said XRP’s TD Sequential indicator flashed a buy signal on the three-day chart, noting that the last three similar setups triggered price pumps of 31%, 24%, and 18%. At the same time, he argued that the bullish scenario depends on the important level of $1.25.
“Hold it, and XRP could rebound toward $1.40. Lose it while whales continue taking profits, and $0.98 could be next,” he said.
Martinez’s warning follows a previous post highlighting concerning factors that suggest a deeper pullback beyond the $1 psychological mark may be on the way.
First, he said some of the largest whales on the XRP Ledger appear to have been reducing their exposure. Second, the amount of XRP held on exchanges has risen, increasing immediate selling pressure.
“The technical level I’m watching is $1.26, the lower boundary of a channel XRP has been forming since August. A break below that support could first send XRP toward $1.11. The channel pattern ultimately points to $0.98, about 22% below $1.26,” he stated at the time.
The Good News Failed to Move the Price
Earlier this week, Ripple unveiled a major expansion on its Treasury platform, allowing eligible businesses to manage liquidity, settlements, and cash positions while potentially earning returns on assets such as the stablecoin RLUSD.
The company also secured final approval from the US Office of the Comptroller of the Currency (OCC) for Ripple National Trust Bank: an entity designed to manage the reserves supporting RLUSD and to act as collateral trustee for the cryptocurrency’s holders.
X user Aman said XRP hasn’t pumped as expected but thinks a price explosion toward $2 is “coming very soon.” Renewed institutional interest in the asset may help an eventual recovery. Last week, spot XRP ETFs returned to green territory, registering a net inflow of about $4.25 million.
However, demand from such investors will need to increase further to spark a meaningful reversal, while the start of the new week brought another red candle that does little to support a bullish outlook.
The post Ripple (XRP) Flashes a Buy Signal: Big Jump Ahead or False Hope? appeared first on CryptoPotato.
The asset’s performance largely depends on the key $1.25 level, Ali Martinez claimed. Crypto Bits, Crypto News, Ripple (XRP) Price
This articles is written by : Nermeen Nabil Khear Abdelmalak
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