At the time of writing, the XRP/BTC pair is trading at 0.00002696. If this trajectory holds, the pair could continue to climb toward higher targets, which would bode well for the price of XRP and an altcoin season.
This bullish stance is further supported by popular analyst EGRAG CRYPTO, who noted the growth in the altcoin’s market dominance. According to him, XRP’s market dominance chart is a crucial indicator of its price direction.
This zone carries added significance as it aligns with a key backtest area, making it a pivotal point for preserving the bullish structure. The selloff, she noted, may be a calculated liquidity grab to shake out weak holders before the next leg up. Holding above $3.22 could maintain confidence in XRP’s upward trajectory. If XRP does break above $3.22, the next important support level to hold is at $3.17.
Featured image from Unsplash, chart from TradingView
