XRP News Today: XRP Dominance Holds 4.5% Threshold as Bullish Pennant Retests Breakout Zone

XRP dominance has regained and sustained the 4.5% threshold, reinforcing a bullish pennant formation on the monthly chart that suggests macro-level strength. This level has become a key indicator of broader market behavior, particularly as XRP dominance remains within defined chart boundaries that have held for multiple years. The current structure mirrors past triple-bottom reversals that led to major rallies, with Fibonacci targets pointing toward potential milestones of 11.44%, 21%, and 31.54%. The retest of the breakout point is now a pivotal moment for confirmation, which could trigger a significant upside continuation [1].

The formation follows a key trend reversal seen in late 2022, after which XRP dominance climbed steadily, retraced into consolidation, and is now retesting the prior breakout area. If this structure holds, it could act as a catalyst for a renewed upward expansion. Historical behavior shows XRP dominance bouncing off a clearly defined long-term downtrend channel, forming a three-cycle base structure. Each of these formations resulted in sharp upward expansions, suggesting that recurring accumulation zones are being formed ahead of potential market dominance phases [1].

While the dominance chart shows long-term strength, XRP’s price action indicates short-term retracement. As of the latest data, XRP was trading at $2.95, down 5.9% over the past seven days. The 24-hour price range remained between $2.91 and $3.17, with the $2.91 level acting as immediate support and $3.17 as resistance. Despite this decline, XRP remains above its historical pivot, indicating the larger bullish structure is still intact. However, a sustained move above $3.17 would require broader participation across major trading pairs, aligning with dominance’s breakout confirmation [1].

On the dominance chart, bullish pennant patterns are forming with potential breakout targets of 21.00% and 27.00%. These align with historical rally patterns that have previously led to strong upward moves. A break above the 6.15% resistance level could open the door to the "void zone," where historical trading volume is thin and momentum is likely to accelerate. Currently, XRP dominance sits between the 0.382 and 0.5 Fibonacci levels. A sustained move above 5.5% could confirm this trajectory, supporting the view that the monthly timeframe remains bullish with support from moving averages and pattern continuity [1].

Source: [1] XRP Dominance Reclaims 4.5% Threshold as Bullish Pennant Structure Retests Key Breakout Zone (https://cryptonewsland.com/xrp-dominance-reclaims-4-5-threshold-as-bullish-pennant-structure-retests-key-breakout-zone/)