Key technical indicator flashes buy signal $XRP after falling 12% YTD

The price of XRP, the XRP Ledger's native token, has risen more than 40% over the past year, but has fallen more than 12% in 2024. A key technical indicator is now pointing to potential bullish momentum.

Renowned cryptocurrency analyst Ali Martinez recently pointed out on microblogging platform X (formerly known as Twitter) a buy signal on the weekly chart of XRP using TD Sequential, a technical analysis tool that aims to predict trend reversals based on past performance.

This signal suggests the possibility of an imminent rally that could take XRP to $0.63 or even $0.65, which would represent an increase of about 20% from its current price of $0.54.