A top market trader has predicted a rapid bullish development for XRP, potentially taking its price to a new all-time high, but places a condition. Specifically, Matthew Dixon, a self-acclaimed veteran financial trader, highlighted in his Tuesday analysis that one level stands in the way of a rally to unprecedented prices for XRP. According to him, XRP would rapidly swing into uncharted territories when it finally breaks the resistance at this level. XRP Below Crucial Resistance According to him, this level is the $2.65 resistance. He mentioned that XRP has failed to reclaim this critical level amid the ongoing rebound effort. The crypto asset broke below this former support area during the quick drop to $1.37 on October 10. Completion of WXY Correction to Support Increase Meanwhile, the completion of the WXY correction further adds weight to the trader’s new ATH outlook. An accompanying chart marked the “W,” “X,” and “Y” points in the XRP daily chart, explaining how prices have shuffled between the areas. XRP WXY Consolidation The “W” marked the low of $1.615 in April. After the low, XRP rallied in an ABC price pattern, reaching a peak of $3.66 in July, identified as the “X.” Another ABC consolidation wave followed a brief correction to $2.96, pushing prices into a descending channel. The last leg of this correctional phase was its drop to “Y” on October 10, marking its end. From there, Dixon projects a reclaim of the $2.65 resistance, followed by a new all-time high. XRP to New All-Time High When asked if XRP would rally to prices like $6 or $7, the market commentator was reserved on setting a precise price target. He simply stated that XRP would at least reach a new all-time high upon breaking above. Meanwhile, XRP trades at $2.52 at the time of writing, down 31% from its current ATH. This means that XRP would have to rally by at least 45% from here to surpass its all-time peak attained in July. Notably, Dixon adds to the number of analysts betting on a new all-time high surge for XRP. For context, analyst CasiTrades predicts an increase to $4.50 when the final lap of a three-wave Elliot Wave pattern resumes.