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Ripple price flashes remarkable buy signals as technicals improve from the dip to $0.57

Ripple on the brink of a 40% upswing as consolidation hits a tipping point


  • Ripple price begins recovery after diving to $0.57.
  • The TD Sequential indicator presents a massive buy signal as buyers take their positions.
  • XRP aims at closing the day above $0.78 to set the precedence for the trajectory to $1.

Ripple slipped below May’s crucial support at $0.65 to trade a two-month low of $0.57. The selloff affected most crypto assets, starting with Bitcoin’s drop to $30,000.

When writing, the international money transfer token teeters at $0.62 amid a gradually building bullish momentum. Perhaps a daily close above $0.7 will call more buyers into the market upon Ripple regaining market stability.

How formidable are Ripple’s buy signals?

The TD Sequential indicator has recently flashed a buy signal on the 12-hour chart. This is a chart overlay tool that measures the volatility of an asset while tracking its trend. A buy signal forms in a red nine candlestick and implies that buyers get stronger as the bearish force fades.

On the other hand, a sell signal presents in a green nine candlestick, implying that selling pressure is about to balloon while bulls lose their grip. With a buy signal intact within the overall technical picture, massive gains are anticipated.

XRP/USD four-hour chart

XRP/USD price chart by Tradingview

The growing uptrend is reinforced by the Relative Strength Index (RSI), gaining momentum after leaving the oversold region. Action toward the midline will cement the growing bullish grip.

Subsequently, traders should watch for movements in the MACD. If the MACD line crosses above the signal line, the buy signal will be validated. Holding above the short-term support at $0.6 is crucial to sustaining the uptrend, while closing the day above $0.7 may bolster Ripple significantly upward.

Ripple intraday levels

Spot rate: $0.63

Trend: Bullish

Volatility: Growing

Resistance: $0.7

Support: $0.6 and $0.57

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

John is a talented writer with over two years of experience actively contributing to the cryptocurrency industry by providing credible, interesting and easy to read the content. His main focus is on cryptocurrency price analysis and industry news coverage. Lets follow him on Twitter at @jjisige





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