XRP is on the verge of explosive growth, with a dominance of 3.93% in the cryptocurrency market. XRP could be poised to take the lead due to the project’s lower overall market cap and improved market position, with BTC dominance falling and ETH dominance rising.
As key Fibonacci levels imply potential upside momentum, XRP dominance could increase, taking its market cap to unprecedented levels. Compared to Bitcoin and Ethereum, XRP’s market share is not impressive. XRP has a lower market cap, so as Bitcoin dominance declines and Ethereum relies on XRP, a high market cap is the trump card.
Since XRP has many times more potential than BTC and ETH, it offers much greater incentives to investors and market participants.
A significant achievement in XRP's upside potential depends on a decisive close above the 5.57% Fibonacci level (0.5 Fib). This would then push XRP into double digits, becoming the start of a new bullish run.
According to recent market data, the XRP dominance chart shows a pretty clear path forward. The VWAP shows a large gap above 4.30%, indicating a lack of resistance, which could potentially support XRP to reach higher dominance levels.
The chart above clearly shows this as price hit the 0.50 Fib level and entered the so-called “KABOOM Green Zone”, indicating a significant breakout.
XRP's market cap could increase significantly if its dominance increases. However, XRP's market cap could surge to $5.42 trillion (Fib 1.414) or $7.25 trillion (Fib 1.618) of the total cryptocurrency market cap.
Investors and market analysts are watching some important dominance levels for XRP. Key benchmarks provided by Fibonacci ratios are 11.44% (Fib. 0.702), 15.22% (Fib. 0.786), and 21.5% (Fib. 0.888).
With each new level, the upside potential increases, leading to a possible spike in XRP market capitalization and dominance as the price stabilizes above $0.76, $0.92, and $1.39.
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