- The TD Sequential Indicator on XRP’s 3-day chart indicates a likely short-term price drop.
- Support at $2.11 is crucial; a failure could signal additional negative risk.
- The low volume and volatility indicate that XRP’s next move could be influenced by larger market factors.
XRP currently shows signs of a potential drop following its recent rising trend. At the time of writing this article, XRP was selling at $2.12, a 0.8% increase in value within the last one day. Since the price is ranging a little above $2.11 with $2.17, the indicator suggests a potential shift in the current trend.
TD Sequential Signals Sell Alert
A notable development is seen on the 3-day candlestick chart appearing on a TD Sequential sell signal. This technical indicator has prompted some market watchers to anticipate a potential short-term decline. The signal emerged following a steady climb in XRP’s price since late April, coinciding with an increase in buying pressure.
According to analysts tracking this formation, the sell signal could reflect waning bullish momentum after XRP tested resistance near $2.17. If confirmed, the token could face downward pressure, especially if market conditions fail to provide fresh catalysts for growth.
Support Holds Firm Amid Caution
Despite bearish signs, XRP remains above the $2.11 support level. This level is seen as a significant pivot point for short-term traders, as a break below may result in more falls. On the other side, continuous consolidation above this level may signal underlying strength, potentially lessening the severity of a subsequent downturn. Volume and volatility remain modest, implying that large-scale movements may be unanticipated based on broader market dynamics or external news developments.
Broader Market Context May Influence Direction
XRP’s current behavior is also shaped by overall crypto market sentiment, which has recently been mixed amid global regulatory developments. New technical indicators indicate that XRP is likely to experience individual price fluctuations despite its recent price gains that reduced market leader distance.Traders are advised to monitor key support and resistance levels as the TD Sequential signal plays out.
