tl; dr
Ripple’s cross-border tokens were recently rejected at a peak line of around $2.7 and are now below $2.35. Despite this double-digit price drop in just a few days, certain technical indicators can flash your purchase signal and lead to a trend reversal.
$XRP looks ready to rebound as the TD sequential presents multiple purchase signals on the time chart! pic.twitter.com/vnw7jgrzvq
– Ali (@Ali_Charts) May 17, 2025
Popular Crypto analyst Ali Martinez chart shows that the TD sequential used to determine market fatigue in either direction in different time frames presented “multiple purchase signals” on the hourly chart of XRP.
This comes after Ripple’s tokens failed to overcome the aforementioned $2.7 resistance on Monday and Wednesday, dropping to $2.3 early today.
The denial of the price coincides with Judge Torres’ decision to reject a joint complaint filed by the US SEC and Ripple, ending the lawsuit with an official $50 million settlement.
Previously, Martinez showed that XRP had no major resistance obstacles on its way to over $3. However, he warned that the most important support is $2.38.
Also, what can be considered a sign of bearishness is the lack of new users in the XRP network, as there was a daily average of new wallets to 3,500 a few days ago. According to Santiment, this number is far behind the leaders, Bitcoin (309,000 per day) and Ethereum (112,000 per day).
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