XRP Gears Up for a Major Comeback
XRP is nearing the end of its seven-wave correction, with signs of a base forming and a potential bullish reversal on the horizon.
According to financial trader Matthew Dixon, XRP may be nearing the end of its current downtrend and preparing for a bullish reversal. He notes that XRP has completed seven downward waves, a structure often interpreted in technical analysis as a corrective phase.
XRP has completed seven downward waves, a structure often interpreted in technical analysis as a corrective phase.
Dixon's analysis aligns with Elliott Wave Theory, which uses wave patterns to predict market reversals driven by investor psychology and cyclical trends.
The financial trader explained that the seven-wave correction from overhead resistance is a classic setup, once this structure completes, the odds of a rebound or even a rally rise sharply.
Author's summary: XRP prepares for a comeback.