Trader Predicts Explosive XRP Rally to New All-Time High If…
$XRP A well-known market analyst has forecasted a strong upside move for XRP, suggesting the cryptocurrency could set a new all-time high (ATH) once it breaks through a major resistance level.
In a recent analysis published on Tuesday, Matthew Dixon, a veteran trader and financial market strategist, identified one critical price point that could determine XRP’s next major rally. According to Dixon, once XRP clears this resistance, it could accelerate rapidly into new price territory.
👉Key Resistance at $ 2.65
Dixon pinpointed the $2.65 level as the crucial barrier preventing XRP from initiating a sustained rally. This area previously acted as solid support but turned into resistance after XRP’s steep decline to $1.37 during the October 10 market crash.
Following that drop, XRP has made several attempts to reclaim the $2.65 region. On Monday, the token climbed to $2.647 before being rejected. Another attempt on Tuesday also failed, with the price retreating to $2.40 shortly after touching the resistance zone.
Dixon emphasized that while XRP has struggled to move above this range, he expects the breakthrough to occur eventually. Once the $2.65 resistance is decisively cleared, he believes the price could advance quickly, potentially surpassing XRP’s current all-time high of $3.66.
👉Why Correction May Support Next Uptrend
Dixon’s optimistic forecast is supported by his technical interpretation of XRP’s recent market structure. He argues that the token has completed a WXY corrective pattern, which often precedes a new bullish phase.
His analysis outlines three main points, W, X, and Y, on XRP’s daily chart. The “W” point represents the low of $1.615 recorded in April. This was followed by an ABC pattern that led to a rally and peak around $3.66 in July, labeled as point “X.”
e final leg of a three-wave Elliott Wave pattern.
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