XRP Price Tests Key Support Zone Amid Signs of Potential Major Bottom

XRP's price has been testing a key support zone near $1.40 after losing half of its gain, according to veteran analyst Matthew Dixon.

The token climbed 71.8% from $0.988 to $1.698 before entering a 20% correction.

Dixon believes the drop from around $3.65 could have formed a completed A-B-C correction and points to XRP's move into the $1.00 support zone as a sign that selling pressure may have eased.

The bullish setup would strengthen if XRP holds above $1.20-$1.30 and breaks above $1.70, while a move above $2.00 would offer stronger evidence of the larger uptrend's return.

However, Dixon warned that the recent recovery could simply be an oversold bounce, and if XRP fails to break through the $1.55-$1.70 area, it could retest $0.94.