The market movement of XRP has once again become a focal point, as recent analysis from cryptocurrency strategist EGRAG CRYPTO shows that this digital asset is approaching a critical moment. With the 'Cycle 3' of XRP's historical price behavior underway, analysts are closely watching whether this token can replicate previous breakout patterns.

Testing 'The Chasm' and Key Price Levels

Historically, XRP has witnessed cyclical price increases following consolidation periods. According to EGRAG CRYPTO, each cycle peaks on the red trendline known as 'The Chasm'. In the current cycle, expectations for a price surge past $11 are very high.

His long-term Fibonacci forecast indicates a potential target of $34.63, with previous milestones at $9.41 and $11.27. This aligns with previous patterns, where significant price surges often occur after confirmed breakouts.

At the time of reporting, XRP was trading at $3.47, down slightly by 0.58% on the day but still up 18.18% over the past week. More importantly, the EMA 21 and SMA 33 continue to provide structural support. This suggests that the bullish trend may continue as long as the price remains above key support areas.

XRP's Dominance Must Exceed 10% to Assert a Leading Position

In addition to price volatility, EGRAG CRYPTO also highlights XRP's market dominance as a noteworthy factor. Currently, XRP's dominance rate is below 6.5%, raising concerns about the coin's position in the cryptocurrency space.

For the asset to assert its leading position, the dominance level must exceed 10%. A lower level indicates limited appeal and may hinder broader institutional interest.

Furthermore, the market capitalization of XRP is currently over $205 billion and still has room for growth. EGRAG identifies three Fibonacci targets: $308 billion, $488 billion, and $946 billion. These targets represent potential growth areas linked to broader adoption and macro market momentum.

The Immediate Breakthrough Testing Level of XRP is at $3.65

Breaking out of the bullish pennant pattern adds another layer of technical analysis for XRP currently. To further confirm, XRP must close above $3.65 decisively. If successful, the price could reach $4.15, $5.37, and even $6.26. Long-term forecasts even suggest a potential high of $23.64.

However, if XRP fails to maintain above $3.65, the price may adjust to the range of $2.60–$2.90. Despite this risk, trading volume and the current trend structure suggest that a bullish trend is still more likely to occur. $XRP