XRP is showing signs of a potential short-term reversal after a key technical indicator flashed a fresh buy signal, raising expectations that bullish momentum could return following the token’s recent pullback. The latest signal, highlighted by cryptocurrency trading expert Ali Martinez in an X post on May 8, comes from the TD Sequential indicator, a technical analysis tool traders use to identify trend exhaustion and possible reversal points. According to the setup, the indicator previously issued a sell signal near XRP’s recent local peak around $1.46 on May 6. That bearish signal was followed by a correction of roughly 5.5% over the next two days, reinforcing confidence among traders who closely track the indicator’s accuracy during recent XRP swings. XRP price analysis chart. Source: Ali Martinez The indicator has now turned bullish again, with XRP stabilizing after a series of bearish four-hour candles pushed the asset lower from recent highs. The new “9” buy signal suggests selling pressure may be easing, while buyers could be preparing for another upward move. At the same time, downside momentum appears to be weakening, as recent candles have become smaller and more compressed while XRP consolidates above short-term support. Traders are now watching whether XRP can reclaim the $1.45 resistance zone, the previous local high. A breakout above that level could pave the way for a stronger rally toward $1.80, where heavier selling pressure may emerge. The renewed bullish setup has also revived speculation about a broader move toward the key $3 level, although XRP would still need to break through several resistance zones and maintain stronger trading volume across higher time frames. XRP’s path to $12 On the other hand, pseudonymous crypto analyst Mikkybull stated that XRP is trading near a key technical support level that has historically preceded strong rallies, with the asset potentially targeting $12 if past recovery patterns repeat. XRP price analysis chart. Source: TradingView The analysis points to XRP retesting the lower boundary of a long-term ascending parallel channel after retreating from highs near $3.50. Similar retests previously triggered major breakouts, including a 580% rally in late 2024 and a massive 65,900% surge during the 2017 bull cycle. The chart also shows XRP’s relative strength index approaching the 40 zone, an area that previously marked major reversal points. Based on the recurring channel structure, the analyst believes a rebound from current levels could send XRP toward the upper boundary of the channel, with $12 emerging as the next major long-term target. By press time, XRP was trading at $1.42 after gaining about 2% in the last 24 hours. On the weekly timeframe, the asset was up 2.5%. The post XRP just flashed a major buy signal: Is $3 next? appeared first on Finbold .
