A potential shift in XRP’s price action has drawn renewed attention from market analysts after a recent chart was shared by Patrick L. Riley, an entrepreneur and real estate specialist known for his commentary on digital assets.
Analyst sees pivotal moment for XRP
Riley highlighted the current XRP weekly chart, noting the asset is positioned at a crucial point that could determine its next major move. He suggested that a green weekly close may trigger broader changes across the cryptocurrency market, potentially reshaping capital flows and dominance dynamics among leading digital assets.
He stated that if XRP closes next week in the green, “we could be looking at the next Bull Run and the end of Bitcoin’s dominance.” Riley described such an event as the beginning of “a whole new market.” At the time of his observation, XRP traded at $1.56, posting a session gain of 10.83%.
If XRP closes next week in the green, the door may open for the next bull run and a fundamental shift in Bitcoin’s leadership over the crypto market. This would effectively introduce a new market phase.
Technical analysis points to breakout
The chart examined by Riley covers XRP’s price action from 2014 through 2026, using a logarithmic scale to present percentage-based movements more clearly over long time periods. Multiple trendlines have converged, with a significant descending trendline extending from XRP’s all-time high in 2018 to its current position. Overlaying this structure, a long-term blue ascending channel points to higher price projections if momentum continues.
XRP recently broke above the upper edge of the descending trendline in late 2024 after rallying more than 500%. The asset subsequently reached an all-time high at $3.65 before retreating and now rests on a key support level—an area that was previously resistance. Analysts describe this as a textbook breakout scenario, with market participants closely watching how long XRP can maintain its current support level.
Currently, XRP trades near $1.52, as it retests the downward trendline that has limited upward movement for over a year. Should XRP hold this level and break out decisively, the upper blue channel could point to long-term price targets between $440 and $800 on the logarithmic scale.
Mini dictionary: Logarithmic scale, a type of financial chart scale that represents percentage changes uniformly over large price ranges, allowing analysts to visually compare moves in markets with wide historical variance.
Market impact: Bitcoin dominance and altcoin dynamics
Riley indicated that the potential breakthrough for XRP could challenge Bitcoin’s dominance—a key metric reflecting Bitcoin’s market cap share compared to the wider crypto sector. Bitcoin dominance tends to fall during “altcoin seasons,” when capital shifts from Bitcoin into alternative cryptocurrencies such as XRP.
Major bull runs in 2017 and 2021 saw significant drops in Bitcoin dominance. During these periods, XRP’s price surged from less than $0.01 to above $3 in 2017, and from below $0.30 to nearly $2 in 2021. Traders monitoring historical market cycles consider shifting dominance to be a possible precursor for outsized moves in leading altcoins.
| Year | BTC Dominance (%) | XRP Price Range |
|---|---|---|
| 2017 | Peak: 87% End: 38% | $0.005 – $3.30 |
| 2021 | Peak: 72% Low: 41% | $0.28 – $1.96 |
Critical support level observed
A weekly close above current support would indicate that buyers are stepping in to defend the breakout. According to Riley, this development could pave the way for considerably higher price targets, in line with the channel projections on the logarithmic chart. Market participants will be monitoring the close to assess potential shifts in momentum that may impact the entire crypto landscape.
A confirmed green weekly close on XRP is viewed as a critical signal that buyers are sustaining the breakout, opening the possibility for a new phase in market structure.
