XRP Underperforms Against Bitcoin as Dominance Exceeds 58%

XRP's price has been stagnant despite Bitcoin's strong run, with the cryptocurrency trading near $1.36. The XRP/BTC pair has declined for 15 consecutive weeks, a trend that analyst ChartNerd attributes to Bitcoin's increasing market dominance.

The dominance of Bitcoin above 58% means that most capital flows into Bitcoin rather than altcoins like XRP, leaving XRP with limited buying interest. This is reflected in XRP's trading volume and price action, which have both been impacted by the shift towards Bitcoin.

ChartNerd notes that this trend is not new, but rather a continuation of a pattern that has been observed since 2017. The analyst warns that if support levels are broken, particularly the $1.30 level, XRP's price could decline further to the $0.90-$0.70 range.