XRP: The Conundrum

According to Matthew Dixon (@mdtrade), the CEO of Evai, an AI crypto rating platform, XRP could be in for some turbulent times. Dixon is an investment trader and financial expert, and his analysis suggests that XRP’s future could be a mix of highs and lows closely tied to the performance of Bitcoin.

Dixon presented his prediction using a daily XRP chart, highlighting a distinctive 5-wave pattern that XRP has followed since the victory recorded by Ripple in mid-July.
XRP began its first wave when it experienced a substantial 73% price surge to $0.93 on July 13, only to retreat from those heights. The drop to $0.69 marked the end of Wave 1.

The second wave came shortly after the first, as indicated by Dixon’s chart. This wave followed a recovery period that began after XRP’s dip to $0.69, eventually reaching $0.84 to mark the end of Wave 2.

Sadly, XRP could not keep the bullish momentum and succumbed to bearish pressure after hitting $0.84. The price plummeted from $0.84 in July to $0.42 in August, ending Wave 3 and marking a 50% decline in just one month.