Bearish Outlook for XRP

On March 7, prominent crypto analyst Ali Martinez shared a bearish outlook for XRP on X, citing multiple sell signals from the TD Sequential indicator on the two-week chart.

At the time of his post, XRP was trading at $2.53, a 2.7% decline from $2.60 on March 6 when the chart was captured at 16:37 UTC.

The highest volume on March 3 indicated a completed “9” setup in the TD Sequential, suggesting a potential reversal may be starting. The volume spike on March 6, followed by a dip to $2.50-$2.53, might indicate the beginning of a “13” countdown phase, confirming earlier signals.

This situation supports Martinez’s assertion regarding multiple sell signals, coupled with the broader trend indicating that the rally from $2.03 has peaked.

As of March 7, the $2.50-$2.55 range serves as immediate support. A break below that could target $2.40, indicating further downside and validating the bearish outlook.