Cryptocurrency analyst Ali Martinez predicts a bullish upswing for a top-10 altcoin, XRP, after a prolonged downtrend. Martinez believes XRP could experience a surge lasting one to four weeks based on the Tom Demark (TD) Sequential indicator, a tool used to identify trend direction and potential price reversals.
XRP’s Potential Upswing
XRP, currently ranked as the sixth-largest crypto asset by market capitalization, is trading at $0.503, marking a 22.8% decrease from its 30-day high of $0.618 set on January 11th. Martinez’s analysis suggests that XRP is poised for an upswing, potentially leading to price gains in the coming weeks.
Tron (TRX) Faces Correction
In contrast to XRP’s bullish outlook, Martinez sees a bearish signal for Tron (TRX) using the TD Sequential indicator. He warns that TRX could be heading towards a correction phase lasting three to twelve days. This bearish outlook is reinforced by a divergence between the TRON price and the Relative Strength Index (RSI), indicating weakening momentum and potential downward movement in the near term.
Tron is currently trading at $0.125, showing a fractional gain on the day. Martinez’s analysis suggests that TRX investors should be cautious and consider the possibility of a price correction in the coming days or weeks.
The views expressed in this article are solely those of the analyst and do not constitute investment advice. Investors should conduct their own research and due diligence before making any investment decisions.