XRP Dominance Nears Key Resistance at 2.57% Amid Price Testing $2.93 and Fibonacci Targets

• 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 suggesting a possible short-term correction ahead.

• According to COINOTAG analyst Egrag Crypto, surpassing this resistance could propel XRP dominance toward significant Fibonacci targets, indicating a bullish market phase.

XRP dominance nears breakout at 2.57% “Sky Dome” resistance; price tests $2.93 with key Fibonacci levels hinting at a major market shift.

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Critical XRP Dominance Breakout at “Sky Dome” Resistance Signals Market Shift

XRP’s market dominance is currently testing the long-standing “Sky Dome” resistance at 2.57%, a level that has historically acted as a strong barrier. This resistance aligns with a triple bottom pattern formed over several years—2017, 2020, and 2024—indicating a robust support base. The convergence of this pattern with the 0.5 Fibonacci retracement level at 2.50% further strengthens the significance of this inflection point. A confirmed breakout above this trendline could mark a pivotal change in XRP’s market positioning, potentially triggering accelerated gains in its share of the total cryptocurrency market.

Fibonacci Extensions Outline Ambitious Targets for XRP Dominance

Technical analysis highlights several Fibonacci extension levels that serve as potential milestones following a breakout. The 0.702 Fib level at 3.66% represents the first target, followed by the 1.0 Fib at 6.08%, and the 1.272 Fib at 9.65%. The most optimistic projection, the 1.618 Fib at 17.39%, suggests a scenario where XRP could capture a substantial portion of the crypto market. These levels are derived from key historical price points, specifically from the November 2020 high to the June 2024 low, providing a structured roadmap for potential dominance expansion. Market participants should monitor these targets closely as they reflect the underlying momentum and investor sentiment.

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XRP Price Faces Resistance Near $2.93 After Recent Rally

On the price front, XRP has recently rallied to a high of $2.9582 but is currently consolidating just below the upper Bollinger Band resistance at $2.93. This level has acted as a ceiling, with price rejection suggesting short-term profit-taking or hesitation among traders. The Bollinger Bands indicate a middle support around $2.40 and a lower boundary near $1.86, framing the current trading range. The recent surge above prior consolidation zones demonstrates bullish momentum; however, the proximity to the upper band signals that a pause or minor pullback could be imminent unless supported by strong buying volume.

Overbought Conditions and Support Levels Indicate Possible Correction

The MVRV Z Score, which measures market valuation relative to historical averages, stands at an elevated 32.8370, signaling potential overbought conditions. This metric often precedes corrective phases as investors realize profits. Key support zones between $2.60 and $2.75 will be critical in maintaining upward momentum. Holding this range could enable another attempt to breach the $2.93 resistance. Conversely, a failure to sustain these levels may lead to a retest of the 20-day Simple Moving Average (SMA) near $2.39. Should this support give way, XRP could revisit demand zones around $2.00 to $2.20, aligning with the lower Bollinger Band and historical buying interest. These technical levels will be decisive in shaping XRP’s short- to medium-term price trajectory.

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