XRP Dominance Nears Key Resistance at 2.57% Amid Price Testing $2.93 and Fibonacci Targets
2025-07-15 19:16:07
Main Idea
XRP's market dominance is nearing a critical resistance level at 2.57%, with its price testing $2.93, and Fibonacci levels suggest potential major market shifts.
Key Points
1. XRP's market dominance is testing the 'Sky Dome' resistance, a pattern observed in 2017, 2020, and 2024, indicating strong support.
2. Fibonacci extensions suggest potential dominance milestones at 3.66%, 6.08%, 9.65%, and 17.39% if a breakout occurs.
3. XRP's price recently rallied to $2.9582 but faces resistance at $2.93, with key support levels at $2.40 and $1.86.
4. The MVRV Z Score of 32.8370 indicates potential overbought conditions, with critical support zones between $2.60 and $2.75.
5. A confirmed breakout in dominance or price could attract institutional interest, while failure may lead to a retest of lower support levels.
Description
XRP dominance is approaching a critical breakout point at the 2.57% “Sky Dome” resistance, signaling potential shifts in market dynamics. The price action near $2.93 faces resistance with overbought indicators
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