Ripple (XRP) dominance, a measure of XRP’s market share relative to the total cryptocurrency market capitalization, has experienced a significant decline of nearly 70% since the July pump.

However, according to analyst EGRAG Crypto, while a final shakeout might see XRP dominance dip into the Yellow Box, subsequent events could be explosive.

EGRAG Crypto is highly convinced that hitting the Fibonacci 0.702 level is just the beginning of XRP dominance. Once this level is reached, the analyst plans to initiate a dollar-sell average strategy, suggesting a bullish outlook for XRP. The XRP Army is advised to stay steady during this period, as the potential for significant growth looms on the horizon.

According to Brad Garlinghouse, the CEO of Ripple, XRP has the potential to capture 10% of the projected $5 trillion total cryptocurrency market capitalization. If this scenario materializes, EGRAG Crypto estimates that XRP’s price could reach around $9–$10, representing a substantial increase from its current levels.

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!

Sponsored

CasiTrades, another prominent analyst, has provided an update on XRP’s technical outlook. Over the weekend, XRP retraced to the critical levels discussed in their previous analysis, with three levels of degrees landing at key Fibonacci levels. The RSI (Relative Strength Index) is also showing signs of a bullish divergence, indicating a potential reversal in the price trend.

With Bitcoin (BTC) reaching support levels, the stage is set for a local bottom in XRP’s price. However, key resistance still exists at $0.53, aligning with the 0.236 Fibonacci retracement level. Traders are looking for a close above this level and support building on top of the purple resistance line to confirm a bullish reversal.

EDO FARINA, a well-known analyst, has shared their outlook on XRP’s future. They expect XRP to move sideways through May, followed by a 70% market crash that will also impact XRP’s price. During this period, many investors may believe that XRP is entering a bear market.

However, the analyst predicts that in Q2 2025, the SEC vs. Ripple lawsuit will officially conclude, leading to XRP becoming the standard currency. This development is expected to trigger a massive FOMO (Fear Of Missing Out) event, propelling XRP’s price to $100 and beyond.

The recent shakeout in XRP Dominance has raised questions about the future of XRP. However, analysts remain optimistic about the cryptocurrency’s long-term prospects. With key levels and indicators suggesting a potential reversal, and the anticipated resolution of the SEC vs. Ripple lawsuit, XRP could be poised for explosive growth in the coming years.

Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.

The post Ripple Dominance Drops 70% Since July Pump: Analyst Shares Insights On XRP’s Future appeared first on CaptainAltcoin.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

146 +