XRP Faces Potential 16% Drop as New Sell Signal Appears

Crypto analyst Ali Martinez warns of a potential downturn for XRP following a recent sell signal from the Tom DeMark (TD) Sequential indicator on the daily chart. This tool has historically been accurate in predicting XRP's trend reversals.

XRP Potential Drawdown

Martinez highlights past TD signals: July 22nd saw a 24% correction, August 8th a 17% pullback, August 23rd a 13% drop, and September 15th another 13% dip.
Recent buy signals led to rebounds of +12% on September 27th and +14% on October 22nd.
The latest sell signal at the $2.64 price suggests possible further decline.

XRP price analysis

Martinez notes that while TD Sequential indicators are timing tools, their historical accuracy implies a statistically plausible correction phase for XRP. Based on previous signals, an average drawdown of ~16.75% could bring XRP down to approximately $2.20 if the pattern continues.

Currently, XRP is trading at $2.64.