As fluctuations in the cryptocurrency markets continue, XRP seems to have faced declines over the past few days. However, this has not shaken the hopes of crypto analysts and industry leaders. According to XRP’s price movement statistics, the digital asset is down just over 2% in the last 24 hours.
Amid this decline, Matthew Dixon, CEO of analytics platform Evai, said in a recent in the statement He made a prediction about the price movements of XRP. Dixon predicted that Ripple (XRP) may first make a minor correction in the coming days, but then show a move towards higher levels.
Dixon’s evaluations stand out as a name that is carefully followed within the cryptocurrency community. Evai’s analytics platform specializes in providing strategic insights to investors by monitoring the performance of prominent digital assets in the market.
XRP Could Fall Further Ahead of Bull Run
The CEO of Evai company has an optimistic view that the price of XRP may rise rapidly and enter a bull run. However, before this rise, he warns that the token may experience a further decline first. To support his claim, Dixon offers a price chart to explain his predictions more clearly.
According to Dixon’s analysis, XRP has left behind a difficult period by resisting fluctuations in the prices of crypto assets and is now in the consolidation phase. In his analysis by examining the 1-hour time frame chart, Dixon predicts a possible decline for XRP before it rises above the $ 0.54 level and states that this decline may continue up to $ 0.5250.
The chart displayed shows that XRP’s RSI is below the overbought zone.
Time will tell how events will develop. Although there is no timeline for Dixon’s claim, it is a promising prediction for XRP holders to keep their accumulated tokens.
Bitcoin (BTC) Exceeds $43,000
XRP may have traded below $0.6 for most of January; This is quite understandable because Bitcoin (BTC) did not perform at its best during the same period. BTC’s sudden price drop on January 3 caused XRP to suddenly fall from the $0.60 price level it had comfortably captured before the unfortunate incident.
Meanwhile, in another development that attracted a lot of attention, Bitcoin (BTC) exceeded $ 43,000 and may rise even further. According to CoinGecko data, the number one cryptocurrency is trading at approximately $43,389 thousand; This reflects a 0.7% increase over the last 24 hours. If BTC continues its positive price rise, it could mean a reversal for most altcoins, including XRP.
You can follow the current price movement here.