The XRP market faced significant challenges during the widespread market correction in late December. Despite this setback, XRP has shown remarkable recovery since the beginning of the new year. A notable market indicator has issued a potential buy signal for Ripple's cross-border token, suggesting a positive outlook ahead.
The TD Sequential, a widely respected tool for identifying market exhaustion, has caught the attention of crypto analyst Ali Martinez, who commands a substantial following on X, where he shared insights about the potential rebound.
His analysis now points to a ‘buy signal’ for XRP on the 4-hour chart, hinting at a possible price surge.
Previously, Martinez speculated that XRP might drop to $2 before a dramatic rally potentially driving the asset to impressive highs, possibly reaching $11. Although such a target may currently seem ambitious, the TD Sequential has successfully identified several lucrative buying opportunities recently.
In December’s broader market crash, it accurately signaled a buy for Bitcoin when its price fell below $95,000, which rebounded strongly and now exceeds $99,000, marking a 4.5% growth since then.
The indicator's success extended to other cryptocurrencies as well. On December 24, it signaled a buy for DOGE when prices plummeted to $0.312. Since then, DOGE has soared by over 22%, now trading above $0.38. The effect on SHIB was more restrained, with only a modest 3.8% gain since a buy signal was issued, lifting its price slightly to approximately $0.000024.
The ongoing impact of the TD Sequential underlines its influential role in crypto trading strategies. While current XRP price targets are ambitious, historical performance underscores the potential validity of the recent buy signal.