The post XRP Dominance Retests Key 1.03% Level, Predicting Surge to $403.78 appeared on BitcoinEthereumNews.com.

JD, a prominent market analyst, has predicted a potential price explosion for XRP following a crucial retest of its market dominance level at 1.03%.  This prediction comes amid growing interest in XRP and renewed optimism in the cryptocurrency market. Notably, the XRP dominance chart measures XRP’s market cap position in comparison to the overall market. When XRP price rises, its market cap also surges, leading to increased dominance. XRP Dominance Retests 1.03% In his analysis, JD pointed out that the last time XRP dominance tested the 1.03% level, it resulted in an astonishing 650x price increase. This historical data forms the basis of the current bullish outlook. #XRP – Last time XRP.D tested 1.03%, it 650x! We just retested 1.03% & bounced off it! Ignore all Riddles/partnership nonsense from influencers that keeps REKTin you! I called bottom, I’m calling TOP next!Retweet/Like for updates after close!#DoNotKnowWhatYouHoldLOL!!… pic.twitter.com/WGVwLjgIrt — JD 🇵🇭 (@jaydee_757) July 16, 2024 The accompanying chart shows that XRP dominance peaked at around 18% in early 2018, followed by significant price spikes. These spikes include a jump to $0.39 (39x in 56 days) and a surge to $3.31 (17x in 28 days).  However, the chart also highlights a notable crash, where XRP dominance dropped by 50% to 0.19% over 203 days. The crash was a product of XRP’s correction from the $3.31 all-time high in January 2018. XRP has since continued to lose its market cap dominance, and it is now the sixth-largest asset by valuation. The recent activity shows XRP dominance, retesting the crucial 1.03% level and bouncing off it. This retest is significant, as it mirrors the conditions that led to the previous 650x price surge. Interestingly, the 1.03% level has proven to be a critical support level, having been tested multiple times. Despite JD choosing not to…

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Filed under: News - @ July 18, 2024 9:20 am