XRP News Today: TD Sequential Buy Signal Sparks XRP Bounce Potential Near $2.80 Support

TD Sequential, a widely monitored technical indicator, has issued a “buy” signal for XRP, sparking renewed interest among traders. The signal appeared on the daily and 4-hour charts as the price settled near $2.86 on August 22, following a sharp correction from the $3.30 peak earlier in the month. This comes after TD Sequential had previously marked a “sell” signal near the top on August 10, which accurately predicted the downward reversal [1]. The current buy signal, appearing after nine consecutive red candles, is often interpreted as a sign of potential trend exhaustion [2].

The move follows a week of significant selling pressure, with XRP recording lower highs and lower lows between August 11 and 19. The price closed at $2.76 on August 19, marking the lowest level in several weeks. Despite the bearish momentum, the recent signal suggests that buyers are stepping in near the $2.80 level, a key support area that appears to be holding [2].

Technical indicators corroborate the potential for a short-term rebound. The RSI remains below 50, indicating weak momentum, while the MACD has flattened, signaling indecision. However, the formation of a symmetrical triangle pattern and a shift in momentum suggest that a breakout above the $3.10 resistance level could trigger a bullish reversal [1]. Analysts, including Ali Martinez on X, note that such a move would confirm the TD Sequential signal and potentially attract more short-term buyers [2].

The broader cryptocurrency market has also experienced a decline, with the overall market cap dropping by nearly $14.5 billion between August 15 and 22. XRP, however, has shown relative resilience, maintaining its position above critical support levels. As of the latest data, the asset was trading at $2.87, down 1.3% in the past 24 hours [2].

Some analysts, including those on Edgen Tech, have raised cautious optimism for XRP’s future, projecting a potential threefold gain to $9 if the bullish momentum continues. This forecast is based on the repeated strength of TD Sequential signals and the defense of key support levels in earlier months [5]. Still, these projections should not be conflated with immediate market outcomes. The next few sessions will be crucial in determining whether the current consolidation leads to a meaningful recovery or another pullback [1].

The alignment of multiple technical indicators—TD Sequential, RSI, and MACD—suggests that XRP may be approaching an inflection point. A breakout above $3.10 could validate the bullish narrative and potentially trigger renewed buying interest. Traders are advised to monitor price action closely, as the next few days could determine the short-term direction of XRP.

Source: [1] NewbieToNode's Profile | Binance Square (https://www.binance.com/en-IN/square/profile/rashujain)

[2] TD Sequential Flashes 'Buy' on XRP — Is a Major Bounce on the Horizon? (https://cryptofrontnews.com/td-sequential-flashes-buy-on-xrp-is-a-major-bo/)

[5] Edgen Search - AI 交易信号和实时市场洞察 (https://www.edgen.tech/zh/app/crypto)