The price of XRP, the native token of the XRP Ledger and fintech company Ripple, could be gearing up for a sustained rally over the next one to four weeks, according to a technical analysis indicator.
Crypto trader Ali Charts pointed out on X that the TD Sequential indicator is presenting a buy signal on the XRP weekly price chart. The TD Sequential tool actively identifies when an asset’s price trend reaches exhaustion and is ready to reverse, analyzing candlestick patterns for that purpose.
“The TD Sequential indicator is signaling a buy on the $XRP weekly chart, suggesting that #XRP is poised for an upswing lasting one to four weeks,” Ali tweeted.
Other crypto market observers have similarly voiced optimism for XRP’s price outlook. CryptoMoneyKing also tweeted that they plan to continue accumulating XRP on dips. He stated: “$XRP I’ll start buying in the Box. #XRP is a long term investment. I’ll rather keep on increasing my XRP spot Bags on every dip.”
Besides the positive technical analysis, fundamental news regarding Ripple’s adoption has also emerged. CryptoGeek broke the news on the X platform that American Express is now leveraging XRP for payment transactions via RippleNet.
“BREAKING: American Express validates its collaboration with #Ripple, declaring the adoption of $XRP for payment transactions. Ripple Labs has officially acknowledged that American Express is leveraging $XRP within the RippleNet System,” CryptoGeek tweeted.
This real-world usage of the XRP by a major financial services company could additionally explain the bullishness by some analysts. At press time, XRP’s value is $0.50 with a market capitalization exceeding $27 billion. Over the past 24 hours, approximately $835 million worth of XRP has changed hands globally.
The recent price action for XRP has been lackluster, showing a slight downturn in the last day. However, technical buy signals and news of adoption suggest that XRP could surge in an upside movement. Traders may want to keep a close eye on the token over the coming weeks.
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