XRP Drops 9.5% as TD Sequential Indicates Buy Signal

An analyst has identified a buy signal for XRP using the Tom Demark (TD) Sequential indicator on its weekly price chart.

Key Points

The TD Sequential is a technical analysis tool used to identify potential price reversals.
The indicator consists of two phases: setup and countdown. The setup phase involves counting nine candles of the same polarity, signaling a trend reversal if completed.
XRP's chart shows a completed setup with nine red candles, suggesting the end of the bearish trend as XRP breaches below the $2.0 level after a 9.5% daily drop.
Ethereum also displayed a TD Sequential setup with nine green candles, leading to a price drop back to the $2,750 level.

As of now, XRP is trading around $2, reflecting a decline of over 9% in the past week.