TD Sequential Flashes Buy Signal For XRP On Key Price Condition – Analyst

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. The XRP price began the week with a show of bullish momentum, seeing an approximate jump of 7%. However, the altcoin could not continue on this trajectory, as it nosedived on Wednesday and continues on that downward trajectory. While XRP’s future appears to tilt towards the bearish side, a technical indicator has recently revealed that the token may be setting up for a short-term rebound. Related Reading Bitcoin Miner Fees Remain Near Cycle Lows: What Does This Signal? 17 hours ago TD Sequential Signals Potential Trend Exhaustion In an X post on January 30, technical analyst Ali Martinez postulates that the XRP price could soon see a rebound, provided that certain conditions are met. The central indicator for this revelation is the TD Sequential, a technical analytics tool that is used in identifying whether an uptrend or a downtrend is likely to pause, or even reverse. Simply put, the indicator tracks points of trend exhaustion, although in the short-term. The TD Sequential has two phases, i.e., the Setup Phase (1–9 count), and the Countdown phase (up to count 13), which have their respective interpretations. When a “9” count is completed, it is typically a sign of dwindling selling pressure. On the other hand, a full “13” count is a telltale sign of an imminent reversal. Source: @alicharts on X From the chart shared by the analyst, we see a completed “9” count to the downside. From this, it is apparent that the momentum driving XRP’s recent fall is nearing a point of exhaustion. Interestingly, this signal’s appearance coincides with the imminence of a key price support. Martinez explains that if the $1.70 support’s integrity is maintained, XRP stands a chance at seeing a price rebound. In the case where the $1.70 support sponsors a price rebound, the $1.80–$1.85 range stands as the resistance level that may test XRP’s momentum. If momentum builds and price overcomes the aforementioned price barrier, $1.90 could be another battleground. Related Reading XRP To $100? Ex-Ripple CTO David Schwartz Weighs In On The Hype 1 day ago XRP ETFs Record $69M In Net Outflows Following Thursday Purge According to data from ETF tracking site SoSoValue, US XRP Spot ETFs are currently running at a cumulative outflow of more than $69 million. The first three days of the week produced combined positive netflows valued at 23.87 million. However, a cumulative outflow of $92.92 million on Thursday quickly flipped a positive week red. Interestingly, this negative figure is in congruence with last week’s net outflow of $40.64 million. Typically, a negative netflow signals that institutional demand might be tapering, as it directly reports that more capital was withdrawn from the  XRP ETFs than deposited. In this context, where the XRP price took on a sharp downtrend, it becomes apparent that institutional investors may have played a significant role in the price downturn of the Ripple token recently seen. Nonetheless, negative ETF netflows do not necessarily tell a broader story of bearishness, but are reflections of profit-taking or de-risking events. As of this writing, XRP trades at a $1.74. According to data from CoinMarketCap, the altcoin has lost about 3.26% of its value since the past day. XRP trading at $1.72 on the daily chart | Source: Tradingview.com Featured image from Pexels, chart from Tradingview