- Matthew Dixon, CEO of analytics platform Evai, has recently commented on Ripple (XRP).
- In a social media post dated May 10, he mentioned that XRP has not benefited much from the overall bullish atmosphere in the crypto market, and has notably lagged behind.
- Dixon focused on a factor that could trigger a rise, suggesting that if the Consumer Price Index (CPI) data to be announced by the US next week comes out positive, XRP could wake up from its slumber.
Matthew Dixon, CEO of Evai, discusses Ripple’s (XRP) performance in the crypto market and predicts a potential rise based on upcoming CPI data.
Ripple (XRP) Lags Behind in Crypto Market
According to Dixon’s social media post on May 10, Ripple (XRP) has not been able to capitalize on the general bullish atmosphere in the cryptocurrency market. The token has been noticeably lagging behind other cryptocurrencies, failing to match their growth rates.
Potential Trigger for Ripple’s Rise
Dixon highlighted a potential trigger for Ripple’s rise. He suggested that if the Consumer Price Index (CPI) data, which is set to be announced by the US next week, comes out positive, it could awaken Ripple from its slumber. The CEO even gave a price target, indicating that if the CPI data is positive, Ripple could exhibit a 23% rise, reaching a level of $0.62.
Ripple’s Current Market Performance
As per CoinGecko data, Ripple has lost 3% of its value in the last 24 hours and is currently trading at $0.50. Despite its recent underperformance, Dixon remains optimistic about the token’s potential, especially in light of the upcoming CPI data.
Conclusion
While Ripple (XRP) has been underperforming in the current crypto market, Evai’s CEO Matthew Dixon believes that positive CPI data could be a potential trigger for its rise. As the crypto market continues to evolve, the performance of individual tokens like Ripple will be influenced by a variety of factors, including economic indicators like the CPI.
