In his recent analysis, prominent crypto analyst Dark Defender (@DefendDark) revealed a notable pattern that could be significant for XRP. His analysis shows an intriguing relationship between Bitcoin dominance and XRP’s bull runs, where the digital asset surges as Bitcoin dominance declines.
His chart showed this pattern played out during previous bull cycles, and according to the analyst, “The story repeats itself.”
The Historical Impact of Bitcoin Dominance On XRP
In early 2017, Bitcoin controlled the crypto market with an impressive 96.25% dominance. The focus on Bitcoin held down the altcoin market, with many prominent cryptocurrencies including XRP failing to gain market share and momentum.
However, the landscape began to shift in March 2017, as Bitcoin’s dominance faced a decline. This shift created an opportunity for XRP, and as the dominance declined, it began its impressive 2017 bull run.
The digital asset experienced a notable 284% jump in March, followed by a massive run as Bitcoin’s Dominance continued to reduce. This run eventually led to XRP’s all-time high of $3.84 which it reached in January 2018 after outperforming most of the market in 2017. Notably, Bitcoin’s dominance at the time was remarkably low at around 35%.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
This decline in Bitcoin’s market share opened the door for altcoins, enabling XRP to thrive and capture the attention of investors. However, as Bitcoin began rising, XRP and other altcoins fell again and entered a prolonged correction phase that reached 2021.
While XRP and other altcoins were struggling in early 2021, Bitcoin’s dominance was over 70%. However, this changed quickly, and as Bitcoin’s dominance dropped, XRP climbed to a notable high of $1.96 and would have performed better if not for Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) which suppressed its price and hindered adoption.
Can XRP Go On Another Rally?
Dark Defender’s chart shows an expected bull run from November 2024 to November 2025. Bitcoin dominance recently hit a multi-year high of around 60.2% and has been falling since then. If that is its peak and the decline has begun, Dark Defender’s analysis suggests that XRP could break out soon.
Market veteran Michaël van de Poppe has also recognized this trend, pointing out the rise in Bitcoin dominance, and noting the potential for it to turn around soon. Other analysts have predicted a price explosion for XRP, and we might be on the verge of a massive surge.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News
The post Expert Reveals Key Metric Holding Back XRP From Massive Rally appeared first on Times Tabloid.
