Friday , May 29 2020
Home / Bitcoin / XRP Triggers Major Buy Signal As Crypto Asset Reaches Pivot Point

XRP Triggers Major Buy Signal As Crypto Asset Reaches Pivot Point


XRP, the native crypto to the Ripple protocol, just flashed a major buy signal, just as the altcoin reaches a major pivot point.
Could this be the start of a monstrous rally that will cause shock and awe throughout the crypto market?
XRP/BTC Triggers Buy on TD9 Sequential
Although XRP has held its position as the number three crypto by market cap with relative ease, following behind only Ethereum and Bitcoin, it has been one of the worst-performing altcoins in the top ten cryptocurrencies by market cap over the last two years running.
XRP was one of the few altcoins that set a new bear market bottom in 2019, and had some of the poorest year-to-date performance in the last year.
Related Reading | Multi-Month Bull Signal on XRP Hints At Astronomical Alt Season Gains 
But this year, the altcoin reached as much as over 80% returns from the start of the year. However, a recent correction cut that rally by half already.
After reaching a high of 34 cents, XRP has fallen back to a low of 25 cents, where it is currently finding support.
The recent drop in the XRP/USD trading pair also caused the altcoin to lose ground against Bitcoin – dropping from 3300 sats to 2700 sats.
But the drop also triggered a TD9 buy signal on the Thomas DeMark Sequential Indicator for the XRP/BTC trading pair.

The indicator is used to signal a buy or sell, depending on if certain conditions are met.
Candlesticks must close in a specific sequence for the signal to trigger, or the count restarts until a successful trigger is confirmed.
A 9-count on the TD 9 Sequential indicator has been significant in the past.
It marked the start of the recent 2020 uptrend and was successfully used by the tool’s creator, renowned marketing timing expert Thomas DeMark, to call Bitcoin’s tops and bottoms.
The tool was used to famously predict the top of the 2017 crypto bubble, and even triggered buy, when Bitcoin reached its bear market low of $3,100 in December 2018.
With such accuracy, it could suggest that XRP is ready to moon.

Pivot month for this guy… But if you don't want to make $$ that's ok! 🤐

#CryptoIkagi pic.twitter.com/0iJznrAnPl
— Mitoshi Kaku 👨🏻‍🚀 (@CryptoSays) February 25, 2020

Ripple About to Rocket From Major Pivot Point
Further backing up the theory, is a chart shared of the XRP/BTC pair. The analyst sharing the chart says that XRP is at a major pivot point.
The crypto analyst further claims that those who aren’t paying close enough attention to this signal, must not like money, suggesting that there’s enormous ROI to be made for those that take action on this latest buy signal.
Related Reading | Ready For Liftoff: Two-Year Downtrend Breakout Could Lead to $14 XRP 
Pivot points are notable dates according to certain time-based trading systems, that suggest a major trend reversal is about to occur.
Should XRP‘s trend finally reverse against Bitcoin, it could see an explosive rally on the XRP/BTC trading pair.
Featured image from Shutterstock


Source link

About admin

Check Also

Mini Altseason in Force as Crypto Small Caps Boom

Today sees the crypto large-caps ranging with slight gains. Bitcoin defied expectations of a fall, …

Leave a Reply

Your email address will not be published. Required fields are marked *