According to a Telegram channel tracking the Tom Demark Sequential, better known as the TD Sequential indicator, the XRP against the U.S. dollar chart just printed a “buy 9” candle after months upon months of falling prices.<\/p>\n
As an aside: the TD Sequential is a time-based indicator created by a special advisor to Point 72 Asset Management and a CEO of a market research and analytics firm. Per a technical analysis site, “When the 9 count is completed, it is at that point, a price pause, price pullback, or reversal is likely.”<\/p>\n
Although it isn’t clear how accurate the TD Sequential is for XRP, the indicator has been especially accurate in calling macro reversals for Bitcoin.<\/p>\n Per Demark himself, 13 candles marked the top of Bitcoin’s bull run to $20,000 in December 2017, the bottom at $3,150 in December 2018, and the local top at $14,000 just last July.<\/p>\n It isn’t only the TD Sequential 9 candle that has analysts optimistic about XRP from a longer-term perspective.<\/p>\n Per previous reports from this very outlet<\/a>, a massive rally for the cryptocurrency is purportedly building.<\/p>\n DonAlt, another popular crypto analyst and trader, noted in a recent tweet that the crypto could see significantly further momentum, pointing to a chart showing a potential target of $0.50, which would mark a roughly 140% rally from its current prices.<\/p>\n Also, \u00a0Michael Van De Poppe, a contributor to CoinTelegraph and a trader at the Amsterdam Stock Exchange, recently noted that XRP\u2019s current price<\/a>\u00a0action is very similar to the bottoming pattern seen in December of 2015 and January of 2016, which was followed by a massive spike to pre-crash levels. He added that massive downtrends on altcoin charts are on the verge of being \u201cbroken down,\u201d setting the stage for strong reversals to the upside.<\/p>\n![\"\"](\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2020\/01\/photo_2020-01-12_17-05-55.jpg\" "\\"\\"")
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