XRP's Chart Shows Signs of Potential Bottom, Analyst Warns of Risks

Veteran crypto analyst Matthew Dixon believes that XRP's chart is showing signs of a possible bottom, although he cautions that it is not yet a confirmed bull trend.

XRP has been trading near $1.40 after losing half its gain from $0.988 to $1.698 and then correcting by 20%.

Dixon points out that the drop from around $3.65 could have formed a completed A-B-C correction, and XRP's move into the $1.00 support zone and strong weekly rebound are signs that selling pressure may have eased.

To strengthen the bullish setup, XRP needs to hold above $1.20-$1.30 and break above $1.70, ideally reaching $2.00 for stronger evidence of a larger uptrend return.