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Analyst: This Historical Pattern Could Cause XRP Dominance Explosion
A recent chart published by EGRAG CRYPTO highlights shifts in XRP market share that warrant attention from traders and analysts. The analysis frames XRP dominance against historical peaks and troughs, as well as identifies Fib retracement thresholds functioning as potential resistance and confirmation levels.
EGRAG CRYPTO emphasizes the significance of dominance in assessing price direction, advising followers to closely monitor the dominance chart as a leading indicator for the broader market.
As the chart reveals, Fib 0.5 at 5.92% serves as the primary hurdle that must be surpassed with confirmation before higher targets become more plausible. Beyond this level, Fib 0.618 is identified at 8.87%; Fib 0.702 is set at 11.61%, which the analyst deems the optimal target for this cycle.
Furthermore, the chart outlines more ambitious thresholds, marking Fib 0.888 at 21.58% and Fib 1 at 31.35% as the ultimate objectives for the digital asset.
The analyst’s prediction is grounded in historical data that suggests a remarkable rally could unfold should the market share of XRP surpass these predefined levels.
Notably, similar patterns have been observed in past cycles, which may indicate an impending surge in XRP dominance.
Source: timestabloid.com
