More than 25 Signals Released! Here’s the Critical Ripple Assumption

After its momentum in the past weeks, analysts continue to make Ripple assumptions. Many think that the XRP price rally is starting to fade. In particular, one analyst points to the TD Sequential indicator, which had more than 25 signals before. Here are the details…

Analyst’s Ripple assumption: correction to $0.39

In a tweet on Monday, crypto analyst Ali Martinez pointed to the drop in XRP price. The analyst warned that the cryptocurrency would fall to the $0.42 or $0.39 price point. “TD Sequential offers a sell signal on the XRP 3-day chart that predicts a correction of $0.42 or even $0.39,” Martinez wrote. Koindeks.comAs we have also reported, TD Sequential provided truthful predictions about price, as you can see in this article.

In the middle, another well-known crypto trader, Profit Blue, shared a sample analysis today. The analyst said that the token is about to break a precious 4-hour trendline. He explained that Ripple may be heading towards the neckline of a newly formed double top formation. It is worth noting that this neckline is in the $0.42 price range.

These developments are the focus of the XRP community.

The XRP token experienced a massive rally over the weekend. It has separated from the rest of the crypto market and has made 40 percent profits in the last 30 days. The asset was trading above the 0.52 price point. The token has been awash with positive sentiment in recent weeks. On Thursday, about 3,000 new addresses were created on the network before the price started to rise. Thus, this metric recorded the highest 24-hour growth since July 2.

There is one important development in the focus of the XRP and XRP community: the SEC lawsuit. Ripple has been dealing with a lawsuit filed by the US Securities and Exchange Commission (SEC) since December 2020. The securities regulator accuses Ripple of selling XRP as an “unregistered security.” However, Ripple says that XRP is not a security, but a commodity like many other cryptocurrencies. The community is hopefully waiting for positive news from the Ripple and SEC case.

Additionally, Flare Network rewards are preparing to distribute tokens to XRP holders via an airdrop. This is another development that has excited the XRP community in recent days. At the time of writing, XRP has lost 6.1 percent in the last 24 hours. Ranking sixth with a market capitalization of $24.1 billion, XRP has risen 4.5 percent in the last 7 days. In other words, its profit on a monthly basis has been neutralized by the situation in the general market.

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisment

Most Popular