Upcoming XRP Price Rally Could Be Historic: Analyst Insights

In a significant development for cryptocurrency enthusiasts, crypto analyst Bird suggests that XRP is poised for its most impressive price rally to date. The analyst points to the declining dominance of Bitcoin as a key factor that may lead to a surge in XRP's price, a trend that has historically preceded previous XRP price increases.

Key Takeaways

Analyst Bird foresees XRP poised for its strongest rally ever due to a decrease in Bitcoin's dominance.
Historical patterns indicate that declines in Bitcoin dominance have previously led to significant increases in XRP’s price.
Current market conditions may replicate past scenarios, potentially leading XRP to new highs.
Future breakdowns in Bitcoin’s dominance could propel XRP into double-digit values, marking a new era of price discovery.

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Signs Indicating a Major Rally for XRP

Bird recently shared on X his forecast for XRP, asserting that the cryptocurrency is on the brink of a major rally due to a notable decrease in Bitcoin's market dominance. He highlighted that Bitcoin's dominance (BTC.D) has significantly dropped during the last three periods when XRP experienced parabolic growth—in 2018, 2021, and now in 2024. The 2018 surge led XRP to reach its historical peak.

Between 2018 and 2021, following XRP's first all-time high, Bitcoin's dominance began to rise again. After testing this trend, BTC.D regained strength before eventually rolling over. This roll-over event was followed by another dramatic increase in XRP’s price in 2021. A similar pattern has emerged in 2024, as Bitcoin’s dominance dropped sharply, briefly showing weakness, which resulted in an increase in XRP's value.

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Source: Chart from Bird on X

Bird pointed out that the 2024 decline in Bitcoin's dominance did not fully materialize, as it managed to recover, but it was still sufficient to cause XRP to soar to new heights. He emphasized that XRP tends to respond strongly to even minor drops in Bitcoin's dominance.

Currently, market conditions appear to be ripe for a repeat of this scenario, which could potentially push XRP's price to unprecedented levels. According to Bird, from 2023 to 2025, Bitcoin's dominance has once again been trending upward, broke through the trendline, and is now exhibiting instability. The analyst noted that this is a historically significant area where XRP has previously surged, but this time could be even more impactful.

Potential for XRP to Reach Double-Digit Prices

Bird further reflected on the potential for XRP to experience substantial growth. He argued that if a temporary decrease in Bitcoin's dominance was sufficient for XRP's price to rise substantially, then a confirmed and permanent breakdown could lead to an even greater surge.

He warned that the next move could push XRP into double digits and beyond. The key difference this time, Bird explained, is that the upcoming price movement is not a false alarm or a minor dip. He anticipates that Bitcoin's dominance will eventually lose its prevailing trend and decline significantly, possibly to the key support area of around 44% to 40%. Once this official breakdown occurs, he predicts that XRP will not only rise but also enter a phase of genuine price discovery.

As of the latest data, XRP is trading at approximately $2.14, having declined nearly 5% in the past 24 hours according to CoinMarketCap.

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XRP trading at $2.11 on the 1D chart | Source: XRPUSDT on Tradingview.com