Just after multiple days of consistent price surges, the crypto market has suddenly flipped negative, pushing XRP to the negative zone.
Despite the sudden switch in investors’ sentiment, XRP still stands a chance for a massive price breakout, according to a recent prediction shared by crypto analyst Ali Martinez.
The analyst shared a 4-hour chart flashing a key buy signal, which suggests that XRP may be gearing up for a significant price bounce back soon.
The bullish flag reflected in the asset’s TD Sequential suggests that the ongoing drawdown in the price of XRP is possibly close to exhaustion.
Thus, this can only mean that the asset is set to resume its uptrend, suggesting that XRP is still headed for the $3.60 price breakout.
What’s XRP’s next target?
As of September 15, XRP has lost its resistance at $3, falling as low as $2.96 during the day. With this declining trajectory, XRP’s price is down 0.57% in the past 24 hours but shows a decent price surge of 1.16% in the last seven days.
While momentum appears to be fading, the analyst has shared reasons why the altcoin might be set for a potential rally, following signals flashed by key on-chain and technical factors.
After briefly falling below the $3 mark, XRP has slightly rebounded back to $3, hovering around $3.01 as of writing. While the downtrend has continued to persist, the TD Sequential indicator shows that XRP is still retaining the buying pressure witnessed in the previous rally.
Following the sustained buying signal reflected on the chart, indicators like this have historically signaled short-term price rallies to ease off extended bearish pressure.
The analysts have predicted that, if the buy signal holds, XRP could stage a bounce back toward the $3.05–$3.10 resistance zone. This could further lead to higher price surges, pushing XRP to the highly anticipated $3.60 mark.
Apart from the signals projected by these key indicators, crypto veterans have also expressed belief that XRP’s surge to $5 is very possible if the proposed XRP ETF products become approved by the SEC.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team