Bitcoin

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Ripple-affiliated XRP token is <a href="https://twitter.com/mdtrade/status/1741152300477850108" rel="noopener noreferrer nofollow">exhibiting</a> a noteworthy pattern that could indicate an imminent price movement.
According to Matthew Dixon, the CEO of fintech and analytics platform Evai, XRP's chart is forming a structure that, if aligned with previous Bitcoin trends, suggests a thrust higher might be on the horizon.
This analysis comes at a time when XRP's price shows a subtle uptick in the 24-hour range.
<h2 id="deciphering-dixon-s-chart-predictions">Deciphering Dixon's chart predictions</h2>
The Elliott Wave Theory, a form of technical analysis that traders use to predict price movements by identifying recurring wave patterns, suggests that market cycles are driven by the psychology of investors.
<blockquote>
 If this is correct for <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> then it would align very well with the previous <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a> chart posted here. So perhaps d and e wave to complete before the Thrust higher for <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> <a href="https://t.co/iAkFfpVrIW" rel="noopener noreferrer nofollow">pic.twitter.com/iAkFfpVrIW</a>— Matthew Dixon - CEO Evai (@mdtrade) <a href="https://twitter.com/mdtrade/status/1741152300477850108?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 30, 2023</a>
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According to this theory, a complete cycle consists of eight waves: five "impulse" waves that move with the overall trend are followed by three "corrective" waves against it.
Dixon's analysis points to the completion of an Elliott Wave pattern on the <a href="https://u.today/xrp-about-to-change-drastically-on-december-29-heres-why" rel="noopener noreferrer nofollow">XRP</a> chart, a technical forecasting method that anticipates market trends based on investor psychology manifested through waves.
His interpretation suggests that XRP is nearing the end of its corrective "d" and "e" waves, postulating that a subsequent "thrust" — a sharp price increase — could follow.
Elliott Wave Theory can provide insights, but it is not infallible. Hence, it should be considered alongside other market indicators.
<h2 id="xrp-s-current-market-standing">XRP's current market standing</h2>
XRP's price remains resilient, with a slight gain of 0.3% to $0.62 despite dropping against Bitcoin by 1.1%, according to CoinGecko <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">data</a>.
With a market capitalization standing strong at $33.7 billion, it is currently ranked sixth by market capitalization.
The token boasts a robust 24-hour trading volume of nearly $596.8 million.

XRP Bracing for Dip Before Major Surge: Trader

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