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Good News for Ripple Investors: Is XRP Preparing for a Rebound?

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TL;DR

  • Ripple’s ability to defend from a price drop below the critical support at $2 could be a proper entry signal.
  • The narrative is also supported by a popular technical indicator, which just flashed a buy signal.

The past week didn’t go well for the fourth-largest cryptocurrency, which is down by over 6% within this timeframe. Thursday evening was a particularly painful trading period for the asset as Trump’s latest tariffs pushed it south to a three-week low of $1.96.

This meant that XRP had lost roughly 25% of its value since March 19, when it peaked at $2.6 after the announcement by Ripple’s CEO, Brad Garlinghouse, that the lawsuit against the US SEC had effectively ended.

Nevertheless, the cross-border token reacted well to the brief slip below the key support line at $2 and bounced off above it almost immediately. The past 12 hours or so have been more promising as XRP now trades at $2.1.

Renowned crypto analyst Ali Martinez highlighted the importance of the $2 support numerous times in the past, warning that XRP could slump to $1.2 if it breaks to the downside. Now that it managed to defend the asset, it could be the propeller of another rally.

Martinez substantiated his position by mentioning the TD Sequential – a metric that shows the market exhaustion in either direction. According to the analyst, the technical indicator had flashed a buy signal on the daily after XRP held above $2, which could trigger a trend reversal and lead to upcoming gains.

This prediction is in stark contrast to the concerning developments around ADA and LINK, where whales had started to offload substantial portions of both assets.

Pranešimas Good News for Ripple Investors: Is XRP Preparing for a Rebound? appeared first on CryptoPotato.

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