I noticed that XRP is still trading within the narrow cone formation range against Bitcoin, and this situation has continued for more than a year now. The interesting thing is that the potential breakout may depend largely on a decline in Bitcoin dominance, which is currently at 56.99% after having been higher.

The current situation looks a bit tough. The coin is now trading around $1.38, meaning it has lost about 62% from its all-time high of $3.65. The broader market has been under significant pressure, and alternatives were among the most affected. What stands out, however, is that XRP versus Bitcoin hasn’t broken the pattern yet—it’s still maintaining the triangle structure.

Interestingly, this cone formation came after a wild surge in November 2024, when it exploded from 0.00000700 Bitcoin to 0.00003062 Bitcoin in December—an increase of 337% in less than a month. After that, it began to pull back and formed this tight pattern.

Analysts say that the real breakout may happen when Bitcoin dominance starts to decline. If a bullish breakout occurs, we could see a parabolic rise for XRP. Some expect the pair to reach 0.000048 versus Bitcoin, and if Bitcoin continues strongly, we may see XRP achieve new levels. The key here is investor patience—waiting for this cone formation range to break.