A closely followed crypto strategist says that XRP looks primed for a rally as it flashes a couple of bullish signals.
Analyst Ali Martinez says on the social media platform X that the Tom DeMark (TD) Sequential indicator is giving off a bullish reading for XRP.
The TD Sequential indicator aims to identify turning points in a market with a value of nine signaling a possible trend reversal.
Says Martinez,
“The TD Sequential shows a buy signal on the XRP four-hour chart, which could trigger a rebound to $0.63 or even $0.67!”
Martinez is also keeping an eye on the activities of XRP whales. According to the analyst, XRP whales have come back to life and are accumulating the altcoin under the radar.
“Despite XRP’s 18% price drop over the past 10 days, there’s a notable uptick in whale transactions and their holdings. This growing interest from major players could be a precursor to an XRP price rebound.”
At time of writing, XRP is trading at $0.60.
Looking at the peer-to-peer payments network Litecoin (LTC), Martinez says the crypto project registered a new record high in terms of transaction count.
“Litecoin registered one million LTC transactions on November 14 alone, marking a new all-time high.”
At time of writing, LTC is worth $69.06.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.