XRP Dominance Breaches Descending Wedge as Price Reclaims $1.60

The $XRP dominance recently broke above a descending wedge structure on the monthly chart as the price reclaims $1.6.

$XRP dominance is showing signs of recovery as $XRP rebounds alongside the broader crypto market. $XRP fell to $1.25 on Sept. 16 before recovering to $1.63 a week later. During the same period, $XRP dominance climbed from 3.106% to 3.448%.

The recovery has brought back focus to $XRP’s market share, with market analyst CryptoInsightUK calling attention to several developments on the $XRP dominance chart that may be worth noting.

$XRP Dominance Recovers After a Major Decline

CryptoInsightUK’s analysis highlights a possible Wyckoff accumulation that he believes completed its spring phase in 2024. The spring followed a sharp decline in $XRP dominance, which dropped from 3.218% in July 2023 to 1.046% by June 2024.

$XRP dominance then recovered and moved above the previous accumulation range to enter the sign of strength (SoS) phase. The move eventually took $XRP dominance to 5.582% in January 2025. Since then, the metric has mostly moved sideways, and CryptoInsightUK believes it has not fully left the SoS phase.

This period of consolidation also produced a descending wedge on the monthly chart. $XRP dominance has now broken above that pattern, having surged to 3.448% at the time of the analysis.

$XRP Dominance Breaks Above 12-Month Wedge

The descending wedge started forming after $XRP dominance fell from the peak of 5.528% in July 2025, which aligned with the all-time high price of $3.6 at the time.

$XRP dominance continued falling from that point and spent around 12 months inside the descending wedge. During this period, $XRP declined more sharply than the broader cryptocurrency market as the bear market that began in late 2025 continued into 2026.

However, the trend changed in August 2026, when $XRP dominance broke above the descending wedge. It has remained above the pattern since then. CryptoInsightUK also noted that the breakout came with increased volume, which confirms the bullish structure.

6% Becomes the First Major Resistance

The chart also shows the possibility of a bullish monthly cross, although $XRP dominance still has significant resistance ahead. CryptoInsightUK identifies 6% as the first major resistance level.

A move from the current 3.448% level to 6% would represent an increase of roughly 100%. Beyond 6%, the chart shows a large gap before the next major resistance area around 12%.

A rising dominance level would mean $XRP is gaining a larger share of the total cryptocurrency market. Such a move would have important implications for $XRP’s price.

Specifically, if the total crypto market cap remains at the current $2.9 trillion level, and $XRP hits a 6% dominance, this would translate to a market cap of $174 billion or $2.76 per $XRP. Meanwhile, a 12% dominance would mean a market cap of $348 billion or $5.53 per $XRP.

What Next?

Speaking further, CryptoInsightUK also used Elliott Wave theory to explain what could happen if the Wyckoff setup plays out as expected.

According to him, if the move that followed the completed Wyckoff accumulation represents the first wave of a five-wave structure, the next impulsive wave could be particularly strong.

With this, the next major $XRP move could exceed the strength of the initial rally that followed the spring phase in November 2024. However, the analyst does not argue that this move has definitely started.

However, he suggests it is a scenario worth watching. If the Wyckoff accumulation has completed and the Elliott Wave structure develops as expected, $XRP could enter a much stronger phase relative to the broader crypto market.