- Ripple price begins recovery after diving to $0.57.
The TD Sequential indicator presents a massive buy signal as buyers take their positions.
Ripple slipped below May’s crucial support at $0.65 to trade a two-month low of $0.57. The selloff affected most crypto assets, starting with Bitcoin’s drop to $30,000.
When writing, the international money transfer token teeters at $0.62 amid a gradually building momentum. Perhaps a daily close above $0.7 will call more buyers into the market upon Ripple regaining market stability.
How formidable are Ripple’s buy signals?
The TD Sequential indicator has recently flashed a buy signal on the 12-hour chart. This is a chart overlay tool that measures the of an asset while tracking its trend. A buy signal forms in a red nine and implies that buyers get stronger as the force fades.
On the other hand, a sell signal presents in a green nine , implying that selling pressure is about to balloon while bulls lose their grip. With a buy signal intact within the overall technical picture, massive gains are anticipated.
The growing uptrend is reinforced by the ( ), gaining momentum after leaving the oversold region. Action toward the midline will cement the growing grip.
Subsequently, traders should watch for movements in the . If the line crosses above the signal line, the buy signal will be validated. Holding above the short-term support at $0.6 is crucial to sustaining the uptrend, while closing the day above $0.7 may bolster Ripple significantly upward.
Ripple intraday levels
Spot rate: $0.63
Support: $0.6 and $0.57