THELOGICALINDIAN - XRP Prints Textbook Sell Signal After Surge
XRP’s assemblage has been impressive, to say the least. Multiple notable cryptocurrency analysts and traders accept taken apprehension of it, arguing that it’s the alpha of a greater balderdash run.
But according to the Tom Demark Sequential, this is absurd to be the case, at atomic for the time being.
The Tom Demark Sequential (aka TD Sequential) is a time-based indicator generally acclimated by crypto traders; the indicator prints “9” and “13” candles at articulation credibility in the trend of an asset.
A Telegram approach that advance signals printed by the TD Sequential acclaimed aloof hours ago that XRP has formed a “sell 9” candle on its circadian chart. This suggests that the asset will abide a alteration in the canicule ahead, acceptable aback appear the $0.20 region.
As the blueprint aloft indicates, this actual arresting — a TD Sequential “sell 9” candle — has historically had some accuracy. Namely, at the highs of April’s rally, the arresting appeared aloof two canicule afterwards XRP put in a high, again proceeded to amend over 20%.
Not the Only Bearish Signal For the Altcoin
Even afterwards the contempo rally, XRP charcoal beneath a attrition level, advertence a appropriate likelihood of added downside. As reported by Bitcoinist previously, one banker commented:
Further affliction XRP’s case for upside, the asset underwent a able bead as Bitcoin surged accomplished $10,000 on Sunday morning. Joseph Young, a arresting crypto analyst, says that this may be apocalyptic of an “altcoin accumulation demography bitcoin rally,” area altcoins underperform as BTC surges.
