XRP Gears Up for a Major Comeback After Seven Downswings

XRP’s Seven-Wave Correction Could Signal Imminent Reversal

According to renowned financial trader Matthew Dixon, XRP may be nearing the end of its current downtrend and preparing for a bullish reversal. 

Dixon highlighted that XRP has completed seven downward waves, a structure often interpreted in technical analysis as a corrective phase. This formation, he explained, typically precedes a fresh upward movement, suggesting that XRP’s bearish cycle could soon give way to renewed strength.

The financial trader explained that the seven-wave correction from overhead resistance is a classic setup, once this structure completes, the odds of a rebound or even a rally rise sharply. 

His analysis aligns with Elliott Wave Theory, which uses wave patterns to predict market reversals driven by investor psychology and cyclical trends.

Therefore, XRP’s market structure remains solid above the crucial $2.20 support, signaling that bullish momentum could soon return if this level holds. Historically, similar multi-wave corrections have preceded strong rebounds once selling pressure fades.

Is XRP Forming a Base After Reclaiming $2.30? 

After enduring seven consecutive corrective waves, XRP has recently shown signs of stabilization, reclaiming the $2.30 mark, a level that could prove pivotal for its next move. 

According to market commentator Z988 Crypto, XRP might be forming a base, setting the stage for a potential rally-base-rally pattern, a classic setup signaling renewed bullish momentum after a consolidation phase.

Z988 Crypto suggests that this pattern, if confirmed, could mark the transition from correction to accumulation, a necessary precursor to any sustainable uptrend. 

“The overall outlook still leans bullish,” the analyst noted, emphasizing that XRP’s structure continues to hold higher lows, a subtle yet crucial indicator of strengthening market sentiment.

Despite short-term volatility, investor sentiment toward XRP remains upbeat, driven by growing adoption prospects and the market’s shift toward utility-focused assets. With liquidity building and a stronger base forming, XRP could be gearing up for a decisive breakout in the weeks ahead.

While XRP’s short-term path may include another retracement, the broader technical setup suggests an emerging bullish structure. 

If the asset can maintain support above $2.30 and reclaim momentum indicators, the stage could be set for a rally-base-rally continuation pattern, signaling renewed strength and possibly the beginning of XRP’s next major upswing.

Conclusion

Matthew Dixon’s analysis signals a critical inflection point for XRP. The seven-wave correction appears complete, and fading bearish momentum suggests a potential bullish reversal. 

While short-term volatility may persist, breaking key resistance levels could confirm a decisive upward shift.

Furthermore, a successful defense of the $2.30 support zone, coupled with improving momentum, could confirm a rally-base-rally pattern—potentially marking the start of a renewed bullish phase.