XRP Sees Potential Major Bottom as Support Zone Holds

Veteran financial trader Matthew Dixon sees potential in XRP's chart, saying it could be forming a major bottom. After losing half its gains from $0.988 to $1.698, XRP is testing a key support zone near $1.40.

Dixon believes the token may have completed an A-B-C correction and points to its move into the $1.00 support zone as a sign that selling pressure has eased.

For a bullish setup to strengthen, XRP needs to hold above $1.20-$1.30 and break above $1.70. A move above $2.00 would offer stronger evidence of a larger uptrend's return.

On-chain data from analyst Ali Martinez shows around 3.2 billion XRP were traded between $1.35 and $1.38, making the area an important demand zone.