Crypto analyst MikybullCrypto (@MikybullCrypto) believes that XRP's dominance is on the verge of a massive increase. According to a chart shared by the analyst, XRP's share of the total cryptocurrency market has returned to a familiar technical setup, characterized by a tightening pattern after a sharp breakout.
The chart shows XRP dominance trading above its long-term resistance level, which was broken in late 2024 with a large bullish monthly candle. This breakout marked a shift in the long-term technical structure of XRP's market dominance.
MikybullCrypto notes that this pattern is similar to an earlier setup in 2017, where XRP dominance broke above descending resistance and then had a brief pullback before another strong advance. The analyst believes that this could repeat soon, with extended consolidation producing explosive breakouts.