thecryptobasic.com
$XRP could now be witnessing the start of a significant move as its dominance chart finally breaks above a months-long descending wedge.
$XRP has taken advantage of the latest market-wide rebound campaign to recover some of the losses incurred earlier this month. The token has since reduced its monthly decline to 7.24%, and a run above $1.33 could finally put it back in the green zone.
Notably, $XRP has gained 4.19% this week amid a broader market resurgence after recording a milder 2.64% increase last week. With this, the crypto asset is on track to witness a second consecutive weekly gain for the first time since April.
The $XRP Falling Wedge
Amid this upward push, $XRP’s market dominance has broken above a long-term descending wedge that has guided its path since July 2025. Well-known market analyst Austin highlighted this breakout, suggesting it could trigger a bullish move.
For context, a descending wedge is a bullish chart pattern formed when price moves lower within two converging downward-sloping trendlines. As the range tightens, selling pressure weakens. It usually signals a potential upward breakout once price breaks above the upper trendline with increased volume.
Notably, market commentator CryptoInsightUK was first to call attention to this descending wedge on the $XRP.D weekly chart. The structure began with the formation of a lower descending trendline, which pivoted from resistance to support after $XRP’s November 2024 upsurge.
Due to $XRP’s price rally above $1 in November 2024, the dominance chart pushed above this trendline and continued to treat it as support.
Meanwhile, the upper trendline of the wedge took shape after the $XRP price pulled back from the $3.6 all-time high in July 2025. As a result of this price slump, $XRP’s market dominance dropped from a high of 5.528% in July 2025 and has continued to see consistent lower highs and lower lows since then, forming the wedge.
$XRP Dominance Records Crucial Breakout
Over the past few weeks, $XRP’s dominance had been attempting to breach the upper trendline of the wedge, but these attempts met resistance, as the price recovery was not sustained.
This week, a breach has occurred, as $XRP’s dominance shoots up by an impressive 2.85% to the 3.41% level on the back of the price rebound effort. Dominance initially surged to 3.5% earlier in the week, but faced resistance at this mark, pulling back to the current area.
Despite the slowdown in market momentum, with $XRP’s market dominance dropping 0.22% today, Austin believes “this could be the start of something HUGE for $XRP.”
Notably, such breakouts often lead to massive upsurges when momentum resumes, but not before the asset retests the breakout for strength. $XRP’s dominance appears to be moving toward retesting the trendline breakout. If it holds, this confirms underlying strength and a potential rally. However, this remains uncertain at press time.