Expert Predicts Surge in XRP Market Dominance, Identifies Buy Zone

A notable chartist shares insights into the trading strategy among XRP smart money investors, forecasting a surge in XRP market dominance as he highlights buy zone.

System engineer and renowned chartist JD has recently identified an attractive buying opportunity for XRP investors, as he shared insights into the effective trading strategy of smart money investors. JD’s analysis projects an imminent surge for XRP’s market dominance in the event of a breakout.

#XRP Dominance update – while eyes are on the lawsuit causing stress/emotions ?‍♂️? SMH, the REAL PLAYAS/SMART MONEY in the game is paying attention to the CHARTS!

Loading up more within orange box if hit w/no emotions!

Retweet/Like for more chart updates! $XRP #XRPCommunity… pic.twitter.com/ckS74fSr6K

— JD ?? (@jaydee_757) July 7, 2023

The analysis references market dominance of XRP’s valuation which witnessed an uptick in March following an extensive period of persistent declines. JD’s report highlights the movements of the chart from 2015 as it seeks to identify XRP’s historical market behavior.

XRP Market Dominance: Historical Data

XRP’s market dominance is a direct reflection of the price movements of XRP. The chart typically appreciates when XRP sees an upsurge in price. This is because XRP’s price rallies increase the asset’s market capitalization, leading to higher market dominance.

Notably, following a period of stagnation, XRP’s market dominance observed an uptick in November 2014. This uptick persisted until the market dominance hit a high of 20.69% in January 2015. This high resulted from an increase in XRP’s price to $0.02 that month.

JD identified that XRP’s market dominance faced declines following the January 2015 high, leading to a two-year downtrend. However, an uptick immediately ensued in 2017, as the market dominance surged to 31.33% in May 2017. JD noted that XRP rallied by 39x in 56 days.

However, XRP crashed again, dropping by 50% within 203 days. This resulted in the formation of a downtrend in XRP’s market dominance. XRP recovered, rallying 17x to $3.31, per JD’s analysis. Nonetheless, the recovery did not trigger a breakout from the downtrend in market dominance.

Attractive Buy Zone

This downtrend persisted for five and a half years, but a breakout ensued last September. XRP’s market dominance continued trading above the downtrend until it dropped to retest the trendline in early March. However, the March rally helped XRP rise above the line.

However, JD noted that there remains a possibility for XRP’s market dominance to decline to the low levels observed in early March. According to him, if this materializes, he would “load up more.” This signals an attractive buy zone in this territory, with the 0.618 and 0.786 Fibonacci points stationed there.

JD asserted that a massive increase would come after the drop to that territory. He called attention to a boundary that XRP sought to breach last October. The asset faced resistance then, leading to the decline in late 2022. According to JD, a breach above this boundary would lead to a price rally.

JD further emphasized a strategy of executing profit-taking trades at the appropriate time. This is in contrast to the HODL strategy favored by most market players. JD believes this HODL strategy often results in investors getting “rekt.”

Meanwhile, XRP has continued to trade below the $0.50 territory in the short term. Following a 1.41% gain yesterday, the asset is looking to reclaim $0.48. XRP is changing hands at $0.4678 as of press time.