Ripple (XRP) has performed remarkably well in recent weeks, reclaiming the fourth spot in terms of market cap. After a massive correction on October 10, XRP has resumed its upward trend and is now trading above the $2.60 level.
However, some analysts have warned that the current trend may be on the verge of a bearish reversal. Ali Martinez has identified a new sell signal for XRP, citing the TD Sequential technical tool, which is used to identify overbought and oversold points.
Historical data shows that the tool has previously predicted XRP trends with high accuracy; for example, after previous sell signals, XRP has experienced price declines of 24, 17, and 13%, respectively. The data also shows that whales have sold a significant portion of their tokens, which could increase selling pressure.
On the other hand, market volatility is expected to intensify in the coming days, especially after the Federal Reserve announces its interest rate decision. Therefore, investors should be on the lookout for these signals and major market moves.
