XRP Could Reach New Peak After Breaking $2.65 Level, Analyst Predicts

• Dixon identifies $2.65 as critical XRP resistance preventing new all-time high.
• WXY correction pattern completed with October 10 low marking final leg.
• XRP requires 45% rally from $2.52 to surpass July’s $3.66 peak.

Financial trader Matthew Dixon has outlined conditions for XRP reaching a new all-time high, pinpointing one resistance level as the critical barrier. The analyst stated in an analysis that breaking this level would propel the token into uncharted price territory.

Dixon identified $2.65 as the key resistance preventing upward continuation. XRP has failed to reclaim this level during current rebound attempts following its decline below the former support during October 10’s market correction to $1.37.

The trader’s outlook gains support from the completion of a WXY correction pattern. Chart analysis shows three distinct phases marked as “W,” “X,” and “Y” points tracking XRP’s price movements through consolidation.

Correction pattern establishes foundation

The “W” phase marked a low of $1.615 in April. Following this bottom, XRP rallied in an ABC price pattern reaching a peak of $3.66 in July, identified as the “X” point in the sequence.

A brief correction to $2.96 preceded another ABC consolidation wave that pushed prices into a descending channel. The final leg of this correctional phase occurred with the drop to “Y” on October 10.

Dixon projects that completing this pattern positions XRP for reclaiming $2.65 resistance followed by advancement to new all-time high territory. The analyst declined to set specific price targets when asked about levels like $6 or $7.

“XRP would at least reach a new all-time high upon breaking above,” Dixon stated without committing to precise upside projections. This conservative approach focuses on pattern completion rather than specific numerical targets.

XRP currently trades at $2.52, representing a 31% decline from its all-time high. Reaching new peak levels would require at least 45% appreciation from present prices to exceed the July high of $3.66.

Multiple analysts project new peaks

Dixon joins other market commentators forecasting new all-time highs for XRP. Analyst CasiTrades has predicted advancement to $4.50 when the final phase of a three-wave Elliott Wave pattern resumes.

The convergence of multiple independent analyses pointing toward new highs suggests technical frameworks across different methodologies identify similar bullish potential. However, all scenarios depend on XRP first reclaiming the $2.65 resistance level.

Breaking above this threshold would validate the WXY correction completion and establish momentum for testing higher price ranges beyond previous peaks achieved earlier this year.