TL;DR

Ripples native token has suffered quite a bit following its all-time high last month, but the number of indicators suggesting that the price is about to explode continues to grow. The asset also closed bullish against BTC yesterday, which could be another catalyst for future gains, especially if bitcoins dominance continues to decline.

XRPUSD. Source: TradingView In our article from yesterday, we reported that the TD Sequential metric, which showcases whether a market move has reached a point of exhaustion in either direction and is ready for a reversal, had painted a buy signal. The indicator previously nailed XRPs top, which came in mid-July when it exploded to a new ATH of $3.65.

Todays good news for the XRP Army comes from the same metric, but on a lower timeframe. Ali Martinez, who often bases his analysis on the TD Sequential, noted this time that the hourly chart has presented a buy signal as well.

$XRP looks ready to rebound as the TD Sequential prints a buy on the hourly chart! pic.twitter.com/jTNQZzU8EX

XRPs price dipped to a three-week low yesterday of $2.81 (on Bitstamp) after it recently lost the coveted $3.00 support line. Although there were signs that the asset could fall to as low as $2.10 if this correction continues, Martinez now seems confident that Ripples token has reversed its trajectory.

CRYPTOWZRD also touched upon XRPs most recent price moves. However, the analyst focused on the assets performance against BTC instead of the greenback, noting that XRP actually closed bullish compared to the market leader.

They added that Ripples cross-border payments token should see further upside momentum against bitcoin, especially as the latters dominance continues to decline. The metric lost 0.5% in just one day on CoinGecko, going from 57.9% to 57.4%.

However, CRYPTOWZRD also outlined the significance of the $3.02 level, which used to serve as solid support and has now turned into a resistance line XRP has to overcome in order to resume its rally.

XRP Daily Technical Outlook:$XRP and XRPBTC closed bullish. We should see further upside momentum in XRPBTC as BTC.D declines. My focus will be on the lower time frame to get a quick scalp. Holding above the $3.0200 resistance for a while is a long location pic.twitter.com/eV0aBSH0Kk