2 Bullish Signs for Ripple (XRP) Price After a 15% Weekly Drop: Details

2 Bullish Signs for Ripple (XRP) Price After a 15% Weekly Drop: Details

XRP fell below $2.00, but here’s what could change its trajectory.

It’s safe to say that the cryptocurrency markets experienced one of their worst monthly performances in recent history to date in November, with prices falling by double digits even from the larger limits.

Ripple’s

In the past week alone, XRP has lost more than 15% of its value and is now at $1.95 after falling below $1.90 yesterday. Moreover, the token has fallen by almost 50% since its all-time high in July this year.

However, data shared by Ali Martinez shows that Ripple’s cross-border token could be poised for a relief rally. The TD Sequential, a measure used to determine market exhaustion in either direction, has issued a buy signal for XRP following the recent disaster.

The last few times this happened, the token rose by double digits (14% and 18% respectively). A similar increase could now take XRP back to the $2.20-$2.30 range.

The other positive news surrounding this asset is the approval of a third ETF with 100% exposure to XRP. If reported According to Bloomberg’s expert, Grayscale’s XRP Trust will convert into an ETF in 2024, similar to the company’s BTC and ETF funds.

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This would be the third spot XRP ETF to go live in the US in less than two weeks. While the launch of the first two turned out to be a classic sell-the-news event, experts are convinced that these are bullish moves for the underlying asset in the long term, especially if volumes and net inflows are high as they were initially.

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