XRP Price Alert: Major Buy Signal Flashes as Analysts Expect Massive Move Ahead

In February, XRP tried to break out after the early-month calamity but was stopped at $1.65. A month later, the bears stepped up even before that when the asset challenged $1.60. During the following couple of months, the cross-border token’s attempts were exhausted long before those levels, at $1.50 in April and $1.47 in May.

On the positive side, all of these rejections were met by fresh buying power at around $1.30, which became XRP’s most important support since then. Now, another buying signal has flashed, and the question is whether this time will finally be any different for the token or if it will be more of the same.

XRP Buy Signal

Ali Martinez, who frequently touches upon the TD Sequential metric, noted that the indicator has flashed a buy signal on XRP’s 4-hour chart. The metric is used to determine the exhaustion of price moves in either direction for the underlying asset. Although it doesn’t have a 100% success rate, it’s generally very reliable when it comes to XRP in particular, as the analyst noted.

The latest example was on May 6, when it flashed a sell signal after XRP tapped $1.46 for the first time in several weeks. The subsequent rejection pushed the token south by over 5% in less than 48 hours.

Martinez said about today’s buy signal flash that it suggests the “local exhaustion is over, and XRP is ready to rebound.” He speculated that the first move would be toward the same resistance at $1.45 and posted a secondary, more bullish target at $1.80 “once we clear the overhead supply.”

Major Move Ahead?

This is not the first time Martinez has brought out the $1.80 target for XRP, as he did so last week when he noted that the asset has been sitting in a tight range for too long and could be primed for a major move ahead. Other analysts have doubled down on this narrative, such as MikybullCrypto. They posted on X that XRP’s triangle consolidation could be coming to an end soon, but the only question is “which side will it break out into?”

Fellow analyst CW believes there’s a bigger chance for an upside breakout as “there is absolutely no downside pressure in the futures market.” They categorized the current drop to under $1.40 as an “artificial decline” and predicted that once it ends, “bigger upward momentum will occur.”

Although the price of is falling, there is absolutely no downside pressure in the futures market.