XRP Dominance Tests Multi-Year Cap As Ledger Burns Spike 60.87%

• XRP dominance chart shows a multi-year pennant that is nearing the “KABOOM” resistance zone Egrag Crypto tracks.
• XRP burn rate rose 60.87% in 24 hours to 1,073 XRP, matching a pickup in on-ledger activity.
• XRP price gained 8% to $2.45, putting market cap at $147 billion and keeping the token in fourth place.

A fresh dominance chart from market analyst Egrag Crypto shows XRP is pressing against the upper band of a consolidation structure that has been in place since 2018. His layout uses the Value Area Low (VAL), Point of Control (POC) and Value Area High (VAH) to describe where XRP has spent most of its trading history, and current readings are back at the resistance side of that range.

Related: Is XRP Ready to Bounce? A New Buy Signal and Falling BTC Dominance Suggest Yes

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