XRP’s market dominance is nearing the pivotal ‘Sky Dome’ resistance level at 2.57%, mirroring historical patterns observed in 2017, 2020, and 2024 that typically indicate strong underlying support. This technical formation suggests heightened significance for the current test, with potential implications for broader market dynamics.
Fibonacci analysis points to substantial dominance milestones at 3.66%, 6.08%, 9.65%, and 17.39% should XRP successfully breakout. Concurrently, XRP price recently rallied to $2.9582 before encountering stiff resistance near the $2.93 threshold. Critical price supports now rest at $2.75–$2.60 and $2.40–$1.86 zones.
The current MVRV Z Score reading of 32.8370 signals potential overbought conditions historically linked to price consolidation phases. This metric underscores increased market sensitivity near the current price range.
Market observers note a confirmed breakout above resistance levels could catalyze institutional participation, while failure to breach these barriers risks triggering a retest of lower support thresholds, potentially reshaping XRP’s near-term trajectory.