XRP confronts a persistent technical barrier known as the Sky Dome resistance level, which has suppressed its market dominance since 2017. This decade-long ceiling has consistently restricted upward price momentum and broader market influence for the asset.
Technical analyst Egrag Crypto identifies two bullish formations—a falling wedge pattern and a bullish rectangle—suggesting potential for a decisive breakout. These patterns indicate that overcoming the Sky Dome could trigger a significant expansion in XRP’s market share.
The crucial threshold for confirmation rests at the 10% dominance mark, which XRP currently trades below. Surpassing this level would signal the start of a new market cycle and could propel dominance toward 27%, according to Egrag Crypto’s analysis.
Investors are advised to closely monitor XRP’s price action, as breaking through the Sky Dome resistance may catalyze substantial market interest and liquidity inflows. The outcome hinges on XRP reclaiming the 10% dominance benchmark after years of consolidation beneath this key technical barrier.