XRP images is showing signs of a short-term reversal after a major technical indicator highlighted a new buy signal, raising hopes that bullishness may return following the indicator’s recent pullback.
The latest sign, shown by crypto currency entrepreneur Ali Martinez in X post on May 8, comes the TD Sequential indicator, a technical analysis tool that traders use to identify trend fatigue and potential reversals.
According to the setup, the token has already issued a sell signal near the current XRP price of around $1.46 on May 6.
The bearish signal was followed by a correction of about 5.5% in the following two days, boosting confidence among traders who closely follow the signal’s accuracy in the recent XRP movement.
The indicator has now turned bullish again, and XRP stabilized after several bearish candles in four hours pushing the stock lower from the recent high.
The new “9” symbol indicates that selling pressure may be easing, while buyers may be preparing for another move.
At the same time, the downside appears to be weakening, as recent candles have been small and suppressed as XRP consolidates above short-term support.
Traders are now looking to see if XRP can regain the $1.45 resistance zone, the local high. A break above that level would pave the way for a strong rally to $1.80, where a big sell-off would appear.
The new strong setup has revived speculation about a bigger move towards the key $3 level, although XRP still needs to break through several resistance zones and maintain a strong trading volume in the higher frames.
XRP trend towards $12
On the other hand, pseudonymous crypto an expert Mikkybull he said that XRP is trading close to an important technical level that has previously been in a strong rally, where the asset could target $12 if the recovery patterns are repeated.
The analysis shows that XRP is retesting the lower limit of the long-term upward trend after returning to the upper levels near $3.50.
Similar revisions also led to a major explosion, including 580% at the end of 2024 and a major operation of 65,900% during the 2017 bull cycle.
The chart also shows the increasing strength of XRP nearing the 40 region, an area that previously contained major reversal points.
Based on the structure of the channel, the analyst believes that a reversal from the current levels will send XRP to the upper border of the channel, with $12 emerging as the next major target.
As of press time, XRP was trading at $1.42 after gaining nearly 2% in the past 24 hours. During the week, the stock rose 2.5%.
