Key Insights:
- XRP flashes a TD buy signal as price steadies inside a crucial Fibonacci support zone.
- Daily indicators show weak momentum while traders wait for a break above $2.52 for clarity.
- Elliott Wave analysis suggests correction may continue unless XRP clears major resistance levels soon.
A TD Sequential indicator has printed a buy signal on the 4-hour XRP/USDT chart on Binance. The signal appeared after a nine-bar downward count, a common setup used by traders to spot possible reversals. The price stood at around $2.2822 when the signal emerged.
This setup follows a period of steady decline, marked by large bearish candles. After that drop, price action moved sideways, forming a brief consolidation. Analysts are watching closely to see if this signal sparks a recovery, with $2.34 and $2.36 noted as the next nearby resistance levels.
Price Holds Steady, Momentum Indicators Mixed
On the daily chart, XRP was trading at $2.2541. Over the past 24 hours, the token has gained 0.4%. However, across the last seven days, it has slipped by 0.1%. The broader trend shows XRP moving within a narrow range, following a strong move earlier in the year that peaked in July.
The RSI stands at 41.89, below the midpoint of 50. This points to weak momentum, but not enough to suggest oversold conditions. The MACD shows minimal movement. The MACD line and the signal line are nearly flat, and the histogram is small. This combination reflects a lack of strong directional pressure.
Price Sits in Key Fibonacci Support Zone
An analysis shared by More crypto online shows that XRP has now entered a critical price area. The support zone, between $2.16 and $2.25, aligns with the 61.8% and 78.6% Fibonacci retracement levels. This zone has acted as a floor for recent price action.
The chart also includes an Elliott Wave count, suggesting that the current movement may still be part of a corrective pattern. According to the analysis, “there is no evidence that a larger bottom has been completed.” For a reversal to be confirmed, the price would need to break above $2.52. A move above $2.84 would carry more weight in confirming strength.
Market Direction Remains Unclear
XRP’s 24-hour trading volume is around $3.5 billion. Despite the recent buy signal, the price continues to trade sideways with low momentum. Analysts caution that confirmation is still required before any larger trend shift can be confirmed.
While the current support zone has held, buyers will likely look for a push above $2.52 to gain confidence. As noted in the recent chart update, “the structure is forming a more complex correction.” Until key levels are cleared, the market remains in a holding pattern.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/xrp-buy-alert-td-signal-hints-at-weekend/