Analyst Ali Martinez flagged a monthly TD Sequential buy signal on XRP at $1.109, and Google search interest in the token has climbed past Ethereum and Dogecoin. The XRP Ledger, meanwhile, crossed 8 million activated accounts.
Cryptocurrency analyst Ali Martinez flagged a bullish signal for XRP on Wednesday, pointing to a completed technical analysis pattern as network activity picked up. He posted XRP’s monthly chart showing a completed TD Sequential indicator at $1.109. According to analyst Ali Martinez: “XRP just flashed a monthly TD Sequential buy signal.”
What the technicals show
The TD Sequential indicator helps traders spot potential price reversals and exhaustion patterns. Its 9-count suggests selling pressure is nearing exhaustion, which could point to a bullish reversal.
Other readings are mixed, however. The Bull Bear Power indicator, which measures the strength of buyers and sellers, flashed a “Sell” signal for XRP, according to TradingView. By contrast, the Moving Average Convergence Divergence indicator gave a bullish “Buy” reading.
Retail attention climbs
Over the past week, Google searches for XRP outpaced those for Ethereum and Dogecoin, a sign of rising retail investor attention.
The activity extends on-chain too. The XRP Ledger, where XRP is the native token, surpassed 8 million activated accounts. Those are funded wallets holding the minimum XRP reserve needed to transact. The XRP Ledger Foundation attributed the growth to tokenization, stablecoins, and decentralized finance.
Price down for the year
XRP traded at $1.11, up 0.52% over 24 hours, according to Benzinga Pro. Year-to-date, it has dropped more than 41% in value.
Source: Benzinga
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