Ali Martinez flagged a rare monthly TD Sequential buy signal, projecting XRP could rally between 15 and 20% to reach $1.35 if it clears $1.13.
The MACD and RSI indicators also back the setup. MACD has also turned to a buy and RSI has recovered to a neutral 53, both showing the heavy selling has cooled.
XRP's 20% move depends on the price breaking above $1.13 and clearing a supply wall at $1.18 to $1.22.
The CLARITY Act permanently classifying XRP as a digital commodity could unlock institutional buying that could propel the price to much higher levels.
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XRP (CRYPTO:XRP) has put together a strong few days, climbing back toward $1.13 this week just as a closely watched signal flashed on its monthly chart. Analyst Ali Martinez on X flagged it as a TD Sequential buy signal, which has put XRP back in the spotlight.
Martinez highlights that if the XRP price manages to break above $1.13, it could rally toward $1.30 or even $1.35, which is a 15% to 20% move from where XRP trades right now. And that is a lot to pin on a single signal. Could XRP pull off a 20% move and reclaim $1.30—the floor it defended for the first half of the year before breaking down in June?
After a long decline that pulled XRP down from its $3.65 peak, a signal called the TD Sequential just completed on its monthly chart, and it points to the year-long downtrend running out of steam.
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The TD Sequential is a tool built by trader Tom DeMark to spot when a trend is losing momentum. It counts candles, and the buy setup finishes once nine of them in a row each close lower than the candle four periods earlier. In plain terms, that is a long, unbroken stretch of selling. Traders mark the ninth candle with a "9," and once it appears, it suggests the selling may be worn out, with sellers losing their grip and a bounce becoming more likely.
On an hourly chart, TD signals appear constantly and mean very little, because a single hour of trading barely moves the bigger trend. This one completed on the monthly chart, where each candle is a full month of buying and selling, so a finished setup only shows up once every few years. A signal built on that much trading carries far more weight than the short-term noise, which is why a monthly "9" on a coin XRP's size caught the market's attention.
Source: Yahoo Finance Top News — This article was automatically imported from the source. Read full article at original source →
