XRP Poised for Takeoff as Dark Defender Sees Bitcoin Dominance Decline
Crypto analyst Dark Defender has suggested that XRP may be preparing for a significant move upwards. In a recent chart posted on Twitter, he projected a decline in Bitcoin's market share to around 45.90%, with potential targets at 55.32% and 52.54%. This would be a result of the cryptocurrency's dominance facing resistance from a descending trendline.
The analyst used an Elliott Wave structure to map out this potential decline, which he believes could take Bitcoin's market share through several lower levels. According to Dark Defender, if Bitcoin rejects the 60.14% and 62.09% area, the projected path could take it toward these targets.
A sustained decline in Bitcoin's dominance could give altcoins more room to gain market share, with XRP potentially benefiting from this rotation. Historically, XRP has surged when BTC dominance weakens, and Dark Defender believes that this trend could continue.