- TD buy signal hints at potential bullish reversal for XRP.
- Critical $1.90 support level determines XRP’s price movement direction.
- Holding above $1.90 could push XRP towards $2.50 resistance.
A potential buy signal has appeared on XRP’s chart, sparking interest among traders and analysts. According to Ali Martinez (@alicharts), a TD buy signal on the XRP chart suggests a potential bullish reversal for XRP. However, this promising outlook is not without an important condition: XRP must hold above the crucial $1.90 support level.
The weekly XRP/USD chart highlights this critical moment. The appearance of the TD buy signal points to a possible shift in market sentiment, with the price potentially moving higher. However, the key to this scenario is maintaining the support at $1.90.
If the price fails to hold above this level, the upward trend could be short-lived, and XRP could face a decline. Ali points out that if XRP manages to stay above $1.90, a move towards $2.50 becomes more likely. This $2.50 level is seen as a key resistance point that traders are watching closely.
On the 3-day XRP/USDT chart, the picture is similar. XRP hovering around $2.10 is another critical level that traders are monitoring. The TD buy signal on this timeframe suggests a bullish potential, but again, the price action heavily depends on whether XRP can hold the $1.90 support. If the price stays above this level and shows signs of recovery, the next resistance target would be $2.50.
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The $1.90 and $2 Levels: Critical Support Points
In a follow-up analysis, Ali pointed out that “$XRP must hold $2 to avoid a drop toward $1.20.” This statement aligns with the observations on the 3-day chart, where the $2 level is also being highlighted as an important support zone. If XRP fails to hold above $2, it could face a sharp decline, potentially heading toward the $1.20 range, as per Ali’s warning.
Both charts underscore the importance of key support levels in XRP’s current price action. On both the weekly and 3-day charts, the $1.90 and $2 levels are crucial for preventing further downside.
If XRP can maintain these levels, the outlook for a move toward $2.50 remains intact. However, any failure to hold these levels could lead to a significant drop, with some analysts warning it could even fall towards the $1.20 range.
The next few days will be critical in determining whether XRP can hold above these vital support zones. If it does, there’s potential for an upward move to $2.50. If not, a further decline could be on the horizon, making it essential for traders to closely monitor these levels.
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