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For those speculating that XRP’s bull run has ended, it might be time to rethink the outlook. According to analysts, XRP’s market dominance is painting a more bullish picture for the cryptocurrency in 2025.
The cryptocurrency has been experiencing a downward trend in market dominance since its peak in 2017. However, a recent break above this downward trend suggests a possible reversal. This could set XRP on a path to reclaiming higher market dominance, much like it did during the 2017 bull run.
According to analyst Josh of Crypto World, XRP’s price on the 3-day chart, the market is still showing signs of a bearish divergence. This suggests that any significant bullish movement is unlikely in the near future. Over the past few months, this pattern has continued, with only occasional small price increases that don’t lead to any major rallies.
Support and Resistance Levels to Watch
In the short-term, XRP has solid support around $2.24 to $2.30, with additional support between $1.95 and $2.05. On the resistance side, there is a significant level just above $2.60, with stronger resistance between $2.65 and $2.80, and another key level around $3.
Sideways Movement Expected
Currently, XRP’s price is mostly moving sideways, bouncing between support and resistance levels. This range-bound action has been ongoing for the last month, which results in relatively slow and uneventful price movement. While the price action may seem boring, there are still opportunities for profit if the right strategies are applied.
What’s Next for XRP?
XRP holders should keep an eye on its market dominance, as it may provide a clearer picture of the coin’s future direction. As analysts forecast continued growth in the crypto market, XRP could emerge as a leading asset in the coming months.
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FAQs
XRP’s price may be rising due to increased market dominance, bullish sentiment, or key resistance breakouts triggering new investor interest.
