With the data coming from exit polls and early counts suggesting that Irish voters have turned away from the Labour Party after its spell in power with Fine Gael, smaller Left parties are set to gain.
Paul Murphy told Newstalk that "the working class has moved decisively away from Labour" - migrating towards the Anti-Austerity Alliance and People Before Profit (AAA/BPB), Sinn Fein and other alternatives.
With the former-Government parties facing a backlash, Mr Murphy says that politics in Ireland is changing "extremely quickly."
If Fianna Fail / Fine Gael are forced to join together to make a government, he says that this would be a reflection of the "weakness" of Ireland's traditional political parties.
The AAA politician told Jonathan Healy that "a Fianna Fail / Fine Gael government would not be a strong government," and that, "movements could take on such a government, and such a government may well not last a full term."
AAA/PBP still face a tall order to return seven seats - this is the 'magic number' for Ireland's smaller parties as it ensures full speaking rights in the Dail.
"In particular, if we get seven, and that seems to hang on Dublin Bay North which is in the balance, that would be a very significant breakthrough for us," Mr Murphy said.
He believes that with the Irish political landscape becoming increasingly fragmented, the Left need to "capitalise" on the gains that have been made.
Either way (Irish Times or RTE exit poll), looks like a political earthquake today. Two and a half party system is dead. #GE16
— Paul Murphy (@paulmurphyAAA) February 27, 2016
PBP candidate in Dun Laoghaire, Richard Boyd Barrett also says that there has been a dramatic change in Irish politics and that "people are looking towards a new Left."
"The story on the Left is that People Before Profit has replaced the Labour Party" he told Newstalk, commenting on a swing away from The Labour Party in his constituency - he added that the vote in Dun Laoghaire is part of a wider national trend moving away from the junior coalition party.
Mr Barrett was keen to highlight the role that the movement against water charges played in mobilising Ireland's Left and the loss of Fine Gael and Labour's mandate:
"One thing that we can say out of this election is that any incoming Government has been sent a message by the electorate that they want rid of water charges," he told Newstalk.
An exit poll published this morning by RTE shows Fine Gael and Labour well short of a majority, in line with last night's exit poll published by the Irish Times.
The poll puts Fine Gael support at 24.8%, down from 36.1% from the 2011 election. The Labour Party receives 7.1%, compared to 19.5% in 2011.
That means support for the coalition has dropped from 55.6% in 2011 to 31.9%.
On the other hand, after a successful campaign from Fianna Fáil and their leader Micheal Martin, support for their party is at 21.1%, up from 17%.
Meanwhile, Sinn Féin stands at 16%, up from 10%.
The poll shows one-third of voters chose independents or smaller parties.
Independent candidates receive 11% support; while the AAA-PBP stands at 4.7%, Social Democrats at 3.7%, Green Party at 3.6%, Independent Alliance at 3%, Renua at 2.4% and Others at 2.6%.
