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 Matthew Dixon, a renowned financial trader, XRP may be nearing the end of its current downtrend and preparing for a bullish reversal. He highlighted 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. He explained that the seven-wave correction from overhead resistance is a classic setup, and once this structure completes, the odds of a rebound or even a rally rise sharply.
Author's summary: XRP prepares for comeback.
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