XRP Weekly Price Has Formed A TD Sequential Buy Setup
In a new on X, analyst Ali discussed how the weekly price of XRP has recently shown a TD Sequential buy signal. The “Tom Demark (TD) Sequential” refers to an indicator in technical analysis that’s generally used for pinpointing locations of probable tops and bottoms for any commodity’s price.
The TD Sequential has two phases. In the first phase, called the setup, candles of the same polarity are counted up to nine. Once these nine candles are in, the indicator gives a signal of reversal for the asset. Naturally, the direction in which such a reversal would go depends on the type of candles that lead to the setup’s completion.
The TD Sequential buy setup that has appeared for the cryptocurrency recently | Source:
As displayed in the graph, the XRP weekly price finished the TD Sequential setup with nine red candles recently. This would imply that the indicator has given a buy signal for the coin.
It would also appear that the indicator’s effect might already be in action, as the cryptocurrency has been heading up overall since it completed the buy setup.XRP Price
XRP has had a poor last week as the asset is down 5% over the period, with its price dropping to the $0.53 level. This means that the asset is still far from the $0.57 threshold the analyst pointed out as a possible bullish catalyst. The chart below displays how the cryptocurrency has performed recently:Looks like the price of the coin has been struggling in recent days | Source: