TD Sequential Indicates Buy Signal for XRP on Hourly Chart

A cryptocurrency analyst has identified a buy signal for XRP using the Tom Demark (TD) Sequential indicator on the hourly price chart.

XRP's Bullish Setup

The TD Sequential is a technical analysis tool used to indicate potential reversal points in asset prices.
It consists of two phases: setup (counting nine candles of the same polarity) and countdown (counting thirteen candles).
XRP recently completed the setup phase with nine red candles, suggesting it may have reached a price bottom.
If the pattern holds, a rebound in XRP's price could occur, although the expected surge may be limited due to the short timeframe.
Other cryptocurrencies, such as Stellar (XLM), have also shown similar bullish formations according to the analyst.

XRP is currently priced around $2.67, reflecting a 1% decrease over the past week.