said Matthew Dixon, CEO of fintech and analytics platform Evai ripple (XRP) is showing a notable pattern that could indicate a rise. He also shows off in his News At
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Dixon sees notable XRP pattern
According to Elliott Wave Theory, a form of technical analysis that traders use to predict price movements by identifying recurring wave patterns, Dixon sees a remarkable pattern emerging. This pattern consists of a complete cycle of eight waves, of which five “impulse waves” move with the general trend and are followed by three “corrective waves”.
If that’s correct #XRP then it would match the previous one very well #BTC Diagram published here.
So maybe d and e wave to complete higher before thrust $XRP pic.twitter.com/iAkFfpVrIW— Matthew Dixon – CEO Evai (@mdtrade) December 30, 2023
The analysis by Dixon on He points out that there could initially be a decline from the d to e wave before he sees a significant increase for XRP.
Current XRP price movement
The price of XRP remains stable, trading at just over $0.62 today. With a market capitalization of $33.59 billion, it is the sixth largest cryptocurrency after Solana earlier In the month, XRP exceeded thanks to an outstanding increase.
Despite the US Securities and Exchange Commission (SEC) lawsuit, it was successful earlier this year because the company won against the SEC. However, the lawsuit still has a major impact and puts pressure on the price of XRP.
Today in the latest XRP news you could read that the network has almost reached a significant milestone. According to the data, there are now millions of XRP wallets, almost 5 million. Read more about this news in this article.
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