XRP’s Dominance Paints a Bullish Picture
XRP continues to command investor attention as renowned market analyst EGRAG CRYPTO reaffirms the altcoin’s bullish stance based on its dominance chart.
According to EGRAG’s latest analysis, XRP is currently navigating a critical threshold, with its market dominance sitting just above 4.5%, a level he deems vital for maintaining a bullish pennant formation on the monthly time frame.
Taking on X, formerly Twitter, EGRAG emphasized that this 4.5% dominance level serves as a key support zone.
“XRP Dominance is still in the most bullish formation,” he wrote. “It’s vital that it remains above 4.5% to keep the bullish pennant formation intact. Remember, we’re analyzing this on a monthly time frame, which means the signals are more robust and less prone to false alarms.”
The bullish pennant is a continuation pattern that typically forms after a strong upward move, followed by consolidation. It often precedes a significant breakout in the direction of the previous trend, something XRP enthusiasts are hoping will materialize soon.
With dominance steadily consolidating within this pattern, a breakout above the pennant could signal a renewed rally not only in XRP’s price but also in its broader market influence.
XRP dominance measures the share of total crypto market capitalization that XRP holds, and a strong or rising dominance typically suggests increased investor confidence.
With regulatory uncertainty diminishing and institutional interest climbing, especially amid ongoing speculation about a potential XRP ETF filing, the case for XRP maintaining or even expanding its dominance appears increasingly solid.
What Next for XRP as $3 Breaks?
In a different X post, EGRAG CRYPTO reaffirmed his bullish outlook on XRP, emphasizing that recent downward price movements are short-term tactics aimed at shaking out inexperienced investors.
He noted that XRP’s temporary dip aligns with historical patterns he’s previously highlighted, particularly pointing to a forecast he made in July.
“I’ve been analyzing the repetitive patterns in the market, and it’s clear that XRP reaching $2.65 is definitely mentioned by me at that time,” EGRAG stated.
EGRAG views these short-term dips not as signs of weakness, but as orchestrated shakeouts often employed in volatile markets to force impatient or inexperienced traders to exit their positions before major rallies.
These price actions, according to him, are meant to "shake out the newbies," clearing the field ahead of a more substantial bullish move.
Therefore, even if XRP retraces to the $2.65, EGRAG believes it's still a pivotal support zone.
At the time of this writing, XRP was trading at $2.94, according to CoinGecko data.
Conclusion
With XRP’s dominance holding steady at this pivotal level and remaining bullish, all eyes are now on whether it can maintain the current structure and spark the next wave in its ongoing rally, potentially making this a defining moment for the altcoin’s trajectory with all eyes on the $2.65 zone.
