XRP News Today: XRP hits key sell signal as price drops below $3 amid bearish TD Sequential count

XRP recently triggered a notable bearish signal as a three-day TD Sequential count reached 9, a widely recognized indicator of potential trend exhaustion [1]. The signal, identified by analyst Ali Martinez on August 3, occurred as the asset approached the $3.60–$4.00 resistance zone. Shortly afterward, the price reversed course, pulling below the $3 level and continuing its descent toward a key short-term support area [1]. This development has raised concerns among traders and analysts who are closely monitoring whether the recent rally has lost momentum.

The sell signal intensified worries in the market, particularly after XRP had reached intraday highs above $3.60 [1]. On-chain data suggests that the token might find temporary support around $2.80, but any meaningful stabilization is likely to depend on the price holding above $2.48 [1]. Analysts have emphasized the importance of the $2.40 level as a potential turning point. If XRP continues to decline, this level could act as a crucial line of defense for buyers attempting to re-enter the market. A failure to hold above $2.40 could signal further losses, potentially bringing the asset back to the $2.00 level [1].

At the time of the report, XRP was trading at $2.92, having risen over 5% in the past 24 hours [1]. However, over the past week, the asset has experienced a nearly 10% decline. Technically, XRP is currently above its 50-day Simple Moving Average (SMA) at $2.65, which suggests some near-term bullish momentum. Meanwhile, the 200-day SMA at $1.875269 reflects a longer-term upward trend [1]. These indicators provide a mixed picture, with the short-term outlook somewhat bearish while the longer-term trend remains positive.

The recent volatility highlights the ongoing uncertainty in the cryptocurrency market. Traders are closely watching technical indicators and on-chain activity for signs of whether the downward trend can be reversed or if further corrections are likely [1]. As XRP continues to test key support levels, the coming days will be pivotal in shaping the asset’s near-term trajectory.

Source: [1] XRP flashes major 'sell signal' as temporary price buffer is identified (https://finbold.com/xrp-flashes-major-sell-signal-as-temporary-price-buffer-is-identified/)