Expert Says XRP Price May Be Set for a Pullback. Here’s why

XRP’s recent upward momentum may be facing a setback, as crypto analyst Ali Martinez (@ali_charts) has highlighted a key signal suggesting a potential pullback.

In a post on X, Martinez shared a chart featuring the TD Sequential indicator, which has triggered a sell signal on the daily timeframe. This signal suggests that XRP could experience downward pressure in the short term.

The chart displays a series of bullish candles leading up to the current price action. However, the TD Sequential has printed a “9” count, typically signaling trend exhaustion. Martinez noted that this pattern indicates XRP “may be set for a pullback,” cautioning traders that the asset could face selling pressure after its recent gains.

Technical Indicators and Market Implications

The TD Sequential is a widely recognized indicator that helps traders identify potential trend reversals. When a “9” appears during an uptrend, it often suggests that buying momentum is weakening and a correction may follow. In XRP’s case, this signal emerged after a steady climb for four consecutive days, reinforcing the possibility of a temporary retracement.

Martinez, who has been actively analyzing XRP’s price movements, previously suggested that the cryptocurrency was positioned for an upswing based on historical patterns and key technical levels. However, the emergence of a TD Sequential sell signal introduces a new factor that traders should consider in the short term.

Recent Predictions and Market Outlook

Despite the current sell signal, analysts, including Martinez, have been optimistic about XRP’s broader outlook. He recently pointed to a cup and handle pattern forming on XRP’s chart, a bullish structure that could drive prices above $3 if confirmed.

Additionally, he noted that XRP could retest the $3 level soon if it holds the $2.3 level. The asset was close to $2.8, but the decline has brought it down to $2.5. With the TD Sequential now suggesting a short-term decline, traders must closely watch key support levels to assess whether XRP can maintain its bullish structure.

There is a good chance that the asset can rebound and nullify this bearish signal. The next few daily closes will determine whether this signal leads to a temporary pullback or if buying pressure remains strong enough to sustain XRP’s recent rally.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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