The XRP news today show that a triple XRP buy signal was formed and Ripple’s native token could escape from being one of the worst performing cryptocurrencies in 2020. As you probably know if you are reading our daily crypto news, the altcoin has been enjoying its place in the top 5 cryptocurrencies by market cap.
Despite Tether (USDT) overcoming XRP at the fourth position last month, we can see that the recent poor performance is leading to the asset being knocked out of the number three spot, a trio of buy signals appearing on the XRP price charts which could lead to a much-needed recovery for XRP traders and investors.
The triple XRP buy signal now appeared and it shows that while all eyes have been on the Bitcoin price news, XRP could see a massive move to the upside real soon. Ripple’s native token may finally be ready for extended upside.
We are talking about the TD Sequential indicator designed by Thomas Demark which is among the most reliable tools across the market for spotting any potential reversals before breakouts. The reliable triple XRP buy signal has called similar upside movements in the BTC news and gave multiple opportunities for growth before.
As pictured above, the XRPUSD and XRPBTC pairs are now exhibiting the “9” buy setup. On weekly timeframes, this could be even more significant and there is also a “9” buy setup for XRP.
Now, the XRPUSD trading pair is edging towards a 12 count currently on the TD Sequential indicator. In fact, 9 and 13 counts are signals which prompt traders to take action or watch for any potential reversal.
While the multiple timeframes are already at a 9 buy and the 13 setup is also present within the next week, the triple XRP buy signal could play out and be the chance XRP bulls have been waiting for in terms of a move to the upside.
Previous breakouts in XRP led to enormous rallies, bringing the asset from under a penny to more than $3 at one point. Another breakout could actually help the Ripple XRP price to position itself above $0.20, then hint at $0.30 and potentially go above $0.35 which is the longer term resistance now.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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