XRP Flashes TD Buy Signal: Start Of Fresh Rally?

A cryptocurrency analyst named Ali Martinez has pointed out that a rebound could be about to begin for XRP after the Tom Demark Sequential flashed a buy signal on the 4-hour price chart. The Tom Demark Sequential is a technical analysis indicator used to locate points of probable reversal in an asset's price. The indicator involves two phases: the setup and countdown, with the setup counting up to nine candles of the same color, which don't have to be consecutive. Once the nine candles are in, it signals that the prevailing trend has reached a state of exhaustion, with the price potentially reaching a turnaround. The signal is a sell signal if the candles leading up to the setup's completion were green, and a buy signal if nine red candles were involved instead. The countdown phase works in a similar manner, lasting for thirteen candles, and once these candles are in, the price attains another top or bottom. Martinez shared a chart showing the TD Sequential signal that has recently formed for the 4-hour XRP price, which appeared after a drawdown in the XRP price, suggesting the coin may be due for a reversal to the upside. Since the signal appeared, XRP has already witnessed a bounce, implying that the bullish effect of the signal could be in action. XRP is not the only altcoin to have seen a TD Sequential setup recently, as Chainlink has also witnessed the same signal on its 4-hour price chart, indicating that it may also be heading toward bullish price action. At the time of writing, XRP is floating around $2.45, up more than 9% over the last seven days, and it remains to be seen whether this rebound will lead to a fresh rally for the asset or if the recovery will fizzle out before long.