X post<\/a> on January 30, technical analyst Ali Martinez postulates that the XRP price could soon see a rebound, provided that certain conditions are met. The central indicator for this revelation is the TD Sequential, a technical analytics tool that is used in identifying whether an uptrend or a downtrend is likely to pause, or even reverse. Simply put, the indicator tracks points of trend exhaustion, although in the short-term.<\/p>\nThe TD Sequential has two phases, i.e., the Setup Phase (1\u20139 count), and the Countdown phase (up to count 13), which have their respective interpretations. When a \u201c9\u201d count is completed, it is typically a sign of dwindling selling pressure. On the other hand, a full \u201c13\u201d count is a telltale sign of an imminent reversal.<\/p>\n
\u00a0<\/p>\n
From the chart shared by the analyst, we see a completed \u201c9\u201d count to the downside. From this, it is apparent that the momentum driving XRP\u2019s recent fall is nearing a point of exhaustion. Interestingly, this signal\u2019s appearance coincides with the imminence of a key price support. Martinez explains that if the $1.70 support\u2019s integrity is maintained, XRP stands a chance at seeing a price rebound.\u00a0<\/p>\n
In the case where the $1.70 support sponsors a price rebound, the $1.80\u2013$1.85 range stands as the resistance level that may test XRP\u2019s momentum. If momentum builds and price overcomes the aforementioned price barrier, $1.90 could be another battleground.\n<\/p>\n
XRP ETFs Record $69M In Net Outflows Following Thursday Purge<\/h2>\n
According to data from ETF tracking site SoSoValue, US XRP Spot ETFs are currently running at a cumulative outflow of more than $69 million. The first three days of the week produced combined positive netflows valued at 23.87 million. However, a cumulative outflow of $92.92 million on Thursday quickly flipped a positive week red. Interestingly, this negative figure is in congruence with last week\u2019s net outflow of $40.64 million.<\/p>\n
Typically, a negative netflow signals that institutional demand might be tapering, as it directly reports that more capital was withdrawn from the\u00a0 XRP ETFs than deposited. In this context, where the XRP price took on a sharp downtrend, it becomes apparent that institutional investors may have played a significant role in the price downturn of the Ripple token recently seen.<\/p>\n
Nonetheless, negative ETF netflows do not necessarily tell a broader story of bearishness, but are reflections of profit-taking or de-risking events. As of this writing, XRP trades at a $1.74. According to data from CoinMarketCap, the altcoin has lost about 3.26% of its value since the past day.<\/p>","protected":false},"excerpt":{"rendered":"
The XRP price began the week with a show of bullish momentum, seeing an approximate jump of 7%. However, the altcoin could not continue on this trajectory, as it nosedived on Wednesday and continues on that downward trajectory. While XRP\u2019s future appears to tilt towards the bearish side, a technical indicator has recently revealed that […]<\/p>\n","protected":false},"author":0,"featured_media":131386,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-131385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/131385"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=131385"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/131385\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/131386"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=131385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=131385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=131385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}