The native cryptocurrency of the Ripple protocol, XRP, was among the most cryptocurrency assets with the worst performance, entering the top ten by market capitalization in 2018 and 2019. She is one of the few altcoins that closed the calendar year at a price lower than at the beginning.
However, XRP’s troubles may soon end suddenly if massive growth is triggered by a recent buy signal – a signal that has only appeared three times on the XRP weekly price charts since the bear market started, and Ripple fell from more than $ 3 per XRP token to current levels of less than a quarter .
Moonshot? TD9 triggers buy on weekly XRP / USD price charts
XRP was among the most effective cryptocurrencies during the altcoin boom during the 2017 crypto advertising bubble, having experienced a multiple, thousandth percent, offering to bring the price of cryptocurrencies number three to a record high of $ 3.84 per token.
After a maximum of weekly XRP / USD price charts, a sell signal was activated using the TD9 Sequential indicator, created by market analyst Tom Demark. A sell signal led the XRP to fall from a historic high to 45 cents in two months – a staggering 88% drop.
Now, just over two years later, the same signal on the weekly timeframes turned the purchase upside down. The diagram below shows that the same signal has been triggered twice during the last two years of the downtrend, and although each of them led to a short-term rally, the resistance to the downtrend turned out to be too large and a pullback occurred.
But the third time can be a charm, especially after two years of sale. At this point, sellers may be exhausted, and an uptrend may form from here, especially with XRP / USD price charts on weekly timeframes that demonstrate an important buy signal.
The XRP / BTC sequence reaches 8, ready to start with the next weekly candle?
The TD9 Sequential was designed by Thomas Demark to track a unique sequence before a signal is triggered. The sequence is a series of nine candles with a price action higher or lower than the initial 1 candle.
Adding more confidence to the theory that the third largest cryptocurrency is ready for a massive breakthrough against the US dollar, XRP / BTC weekly price charts are currently on the eighth candlestick sequence of 9 candles.
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After the next weekly close, if Ripple has not struck before and has not gone to a powerful rally, XRP / BTC will trigger on a 9-day buy signal on weekly timeframes. If he first breaks against the US dollar, although the signal does not work, this will not be necessary, since Ripple will probably fly to the moon again.