XRP has made some impressive gains in the last few days, but the gains may not last long and a significant crash may be underway.
According to data shared by crypto analyst Ali on 29 October, a highly reliable XRP indicator has flashed red, indicating a huge potential crash.
Known as the TD Sequential, the indicator has previously predicted XRP trend reversals with high accuracy, making it worth noting.
A painful reversal
XRP was one of the top crypto assets that suffered the most in the multiple corrections in the last few weeks.
After staying above $3 for a while, the token crashed as low as $2.10 and took quite some time to recover to its current price of $2.63.
Ali had also rightly predicted the rebound using the same TD Sequential tool, meaning there could be some truth in the new prediction.
For starters, TD sequential is a technical analysis tool that helps traders to spot trend reversals from bullish to bearish and vice versa.
This enables them to make informed decisions on when to enter or exit a trade. So far, the indicator has been accurate about XRP in particular and should be taken seriously.
If it turns out to be accurate this time, XRP may be losing the gains of the last few days, although Ali did not give a price expectation.
Will bulls save the day
With the TD Sequential signalling a trend reversal, only one thing can save XRP — whale buying. Although there’s a lot of talk around the token currently, whale activity has not been seen much.
By buying the token in large quantities, whales may help to build the momentum it needs to maintain its upward movement.
Meanwhile, the expected rate cuts after the Federal Open Market Committee (FOMC) today may also trigger a bullish momentum that will bring a quick turnaround.
What do you think?
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