- XRP dominance chart shows a multi-year pennant that is nearing the “KABOOM” resistance zone Egrag Crypto tracks.
- XRP burn rate rose 60.87% in 24 hours to 1,073 XRP, matching a pickup in on-ledger activity.
- XRP price gained 8% to $2.45, putting market cap at $147 billion and keeping the token in fourth place.
A fresh dominance chart from market analyst Egrag Crypto shows XRP is pressing against the upper band of a consolidation structure that has been in place since 2018. His layout uses the Value Area Low (VAL), Point of Control (POC) and Value Area High (VAH) to describe where XRP has spent most of its trading history, and current readings are back at the resistance side of that range.
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A clean push above the VAH, marked as the “KABOOM” zone on his chart, would open a dominance lane toward the 11% to 22% area he has tracked for months.
Multi-Year Pennant Signals Room For Expansion
According to Egrag, XRP dominance has bounced several times off the VAL zone and is now finishing a symmetrical pennant. This kind of structure often precedes continuation when the asset has held the lower boundary multiple times.
The chart also shows a “VOID” segment above resistance, identified as a thin-liquidity zone that could get filled quickly if buyers force a breakout. If that happens, XRP’s market share would stop drifting sideways and start expanding against other large caps.
On-Chain Burns Confirm Higher Ledger Usage
XRPSCAN data shows the network burned 1,073 XRP in transaction fees over the last 24 hours, up from 667 XRP previously, a 60.87% jump. Higher burns on XRP Ledger usually mean more payments, token transfers or DEX actions are clearing on-chain.
The pickup came right as price recovered, which tells us this is not a stale on-chain spike but current activity tied to traders returning.
XRP Price Successfully Holds Above $2.20 Support
XRP traded 8% higher at around $2.45 at the time of reporting, according to CoinMarketCap. The move lifted market capitalization to $147 billion and daily volume to $4.3 billion.
The token’s intraday movement showed a rebound from $2.26 to $2.46 before consolidating near $2.45. Support is observed around $2.20, with near-term resistance at $2.35.
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Source: https://coinedition.com/xrp-dominance-burns-jump-price-breakout/