{"id":554945,"date":"2023-10-11T15:00:21","date_gmt":"2023-10-11T15:00:21","guid":{"rendered":"https:\/\/wncen.com\/?p=554945"},"modified":"2024-06-11T08:01:22","modified_gmt":"2024-06-11T08:01:22","slug":"xrp-price-prediction-bad-news","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-price-prediction-bad-news\/","title":{"rendered":"XRP Price Prediction: Crypto CEO Delivers Bad News For The Altcoin"},"content":{"rendered":"

Amidst the debate on the XRP price<\/span> future trajectory<\/span><\/a>, the CEO of Evai Crypto Ratings, Matthew Dixon, has provided insights into the token\u2019s direction using the <\/span>Elliot Wave Theory<\/span><\/a>. However, his analysis doesn\u2019t provide any relief to XRP holders as he projects a <\/span>further decline<\/span><\/a> for the token and its ecosystem.<\/span><\/p>\n

How XRP Price Is Looking On The Charts<\/h2>\n

In a <\/span>tweet<\/span><\/a> shared on his X (formerly Twitter) platform, Dixon shared a <\/span>price chart of XRP<\/span><\/a> dating back to July, when <\/span>Judge Analisa Torres ruled<\/span><\/a> in favor of Ripple against the US <\/span>Securities and Exchange Commission<\/span><\/a> (SEC). As part of his analysis, he noted that XRP aligned with the BTC outlook.\u00a0<\/span><\/p>\n

Related Reading: Crypto Analyst Identifies 6 Overlooked Altcoins That Could Be Due For A Price Surge<\/a><\/div>\n

\"XRP<\/p>\n

Source: X (formerly Twitter)<\/pre>\n
Looking at the chart, he highlighted the bearish divergence, which indicated that the 5th wave was expected to cause a decline in the XRP price. However, before then, he projected that there is a likelihood of the token experiencing an upward trend to complete wave 4.\u00a0<\/span><\/p>\n
While Dixon\u2019s analysis suggests a bearish outlook, he quickly noted that nothing was certain in technical analysis, although there is a high probability of this happening.\u00a0<\/span><\/p>\n
The Elliot Wave Theory, which he used to come to this conclusion, is a <\/span>popular technical analysis indicator<\/span><\/a> used to predict future price trends. The theory propounds that markets like XRP follow predictable sequences of optimism and pessimism driven by investor sentiment and psychology. Simply put, it agrees with the trend that there will always be a correction or retracement after a particular trend (upward or downward).<\/span><\/p>\n
\"XRP<\/p>\n
XRP sitting at $0.48 | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Time To Lower Expectations<\/h2>\n
Many crypto analysts have made far-fetched predictions of the XRP price, with one, in particular, stating that the token could rise <\/span>as high as $10,000.<\/span><\/a> However, a crypto influencer (Crypto Assets Guy) <\/span>advised<\/span><\/a> those in the XRP community to lower their expectations as the token won\u2019t hit \u201c$10,000, $1,000, $50\u201d or even $10 any time soon.<\/span><\/p>\n
Related Reading: XRP Price Gearing Up For Rebound As Whales Make Their Move<\/a><\/div>\n
He took a more conservative stance by stating that the token could hit a new all-time high late <\/span>this year<\/span><\/a> or in 2024, suggesting it could add around $3.70 to its current all-time high of $3.84. He believes the XRP community should be more than satisfied if that happens.\u00a0<\/span><\/p>\n
Meanwhile, many in the XRP community seem tired of these <\/span>price predictions<\/span><\/a>. This was evident when some expressed frustration after XRP influencer Jack The Rippler <\/span>posted<\/span><\/a> the headline of an article (dated July 31, 2023), which stated that a Wells Fargo staff had predicted the XRP price to hit $100 to $500 in the next 2 to 7 months.\u00a0<\/span><\/p>\n
One particular X user <\/span>stated<\/span><\/a>, \u201cBla bla bla evey [every] goddamn day the same shit.\u201d<\/span><\/p>\n
\n
Bla bla bla evey goddamn day the same shit<\/p>\n
\u2014 rovadi \ud80c\udd3f (@RoVaDi2001) October 10, 2023<\/a><\/p><\/blockquote>\n
Featured image from Shutterstock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Amidst the debate on the XRP price future trajectory, the CEO of Evai Crypto Ratings, Matthew Dixon, has provided insights into the token\u2019s direction using the Elliot Wave Theory. However, his analysis doesn\u2019t provide any relief to XRP holders as he projects a further decline for the token and its ecosystem. How XRP Price Is Looking On The Charts In a tweet shared on his X (formerly Twitter) platform, Dixon shared a price chart of XRP dating back to July, when Judge Analisa Torres ruled in favor of Ripple against the US Securities and Exchange Commission (SEC). As part of his analysis, he noted that XRP aligned with the BTC outlook.\u00a0 Related Reading: Crypto Analyst Identifies 6 Overlooked Altcoins That Could Be Due For A Price Surge Source: X (formerly Twitter) Looking at the chart, he highlighted the bearish divergence, which indicated that the 5th wave was expected to cause a decline in the XRP price. However, before then, he projected that there is a likelihood of the token experiencing an upward trend to complete wave 4.\u00a0 While Dixon\u2019s analysis suggests a bearish outlook, he quickly noted that nothing was certain in technical analysis, although there is a high probability of this happening.\u00a0 The Elliot Wave Theory, which he used to come to this conclusion, is a popular technical analysis indicator used to predict future price trends. The theory propounds that markets like XRP follow predictable sequences of optimism and pessimism driven by investor sentiment and psychology. Simply put, it agrees with the trend that there will always be a correction or retracement after a particular trend (upward or downward). XRP sitting at $0.48 | Source: XRPUSD on Tradingview.com Time To Lower Expectations Many crypto analysts have made far-fetched predictions of the XRP price, with one, in particular, stating that the token could rise as high as $10,000. However, a crypto influencer (Crypto Assets Guy) advised those in the XRP community to lower their expectations as the token won\u2019t hit \u201c$10,000, $1,000, $50\u201d or even $10 any time soon. Related Reading: XRP Price Gearing Up For Rebound As Whales Make Their Move He took a more conservative stance by stating that the token could hit a new all-time high late this year or in 2024, suggesting it could add around $3.70 to its current all-time high of $3.84. He believes the XRP community should be more than satisfied if that happens.\u00a0 Meanwhile, many in the XRP community seem tired of these price predictions. This was evident when some expressed frustration after XRP influencer Jack The Rippler posted the headline of an article (dated July 31, 2023), which stated that a Wells Fargo staff had predicted the XRP price to hit $100 to $500 in the next 2 to 7 months.\u00a0 One particular X user stated, \u201cBla bla bla evey [every] goddamn day the same shit.\u201d Bla bla bla evey goddamn day the same shit \u2014 rovadi \ud80c\udd3f (@RoVaDi2001) October 10, 2023 Featured image from Shutterstock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":554955,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,17209,4531,83637,89311,13172,16289,10972,78763],"class_list":["post-554945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-ripple-news","tag-xrp","tag-xrp-news","tag-xrp-prediction","tag-xrp-price","tag-xrp-price-prediction","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Price Prediction: Crypto CEO Delivers Bad News For The Altcoin<\/title>\n<meta name=\"description\" content=\"Amidst the debate on the XRP price future trajectory, the CEO of Evai Crypto Ratings, Matthew Dixon, has provided insights into the token.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Prediction: Crypto CEO Delivers Bad News For The Altcoin","url":"http:\/\/wncen.com\/news\/ripple\/xrp-price-prediction-bad-news\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/xrp-price-prediction-bad-news\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small.jpeg?fit=320%2C213"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","ripple news","xrp","xrp news","xrp prediction","xrp price","xrp price prediction","xrpusd","xrpusdt"],"dateCreated":"2023-10-11T15:00:21Z","datePublished":"2023-10-11T15:00:21Z","dateModified":"2024-06-11T08:01:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Prediction: Crypto CEO Delivers Bad News For The Altcoin\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-prediction-bad-news\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/xrp-price-prediction-bad-news\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_1306247059-Small.jpeg?fit=320%2C213\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"ripple news\",\"xrp\",\"xrp news\",\"xrp prediction\",\"xrp price\",\"xrp price prediction\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-10-11T15:00:21Z\",\"datePublished\":\"2023-10-11T15:00:21Z\",\"dateModified\":\"2024-06-11T08:01:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/shutterstock_1306247059-Small.jpeg?fit=320%2C213","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554945"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=554945"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/554945\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/554955"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=554945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=554945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=554945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}