XRP’s price has risen with a crucial technical breakout after it surpassed the $1.60 level, nullifying the bearish resistance pattern that had been controlling price movement for about a full month. In one of its strongest technical moves since August, after logging an intraday gain that touched $1.66, XRP is currently trading at around $1.62.
Is XRP on track for a quick rebound?
This breakout came after a quick recovery from a level near $1.28, meaning XRP is up more than 25% since its most recent local lows. Breaking the descending trendline that connects the lower highs of the coin during August and September is the most significant development in this rally. Before the rally accelerated through the $1.50 and $1.60 levels, price first reclaimed the $1.40 line. Meanwhile, rising trading volume during this move added credibility to the breakout, as XRP easily surpassed all the major moving averages on the daily chart.
The long-term moving average, located between $1.36 and $1.37—which had been a major technical barrier—has now turned into support. While current momentum has not reached the peak of the sharp upmove seen in August, it is still strong, as the Relative Strength Index (RSI) is approaching the overbought zone in the upper 60s, with some room remaining for further upside.
Additional levels that must be surpassed
The question at hand is whether the $2 level is still a realistic target. Despite the substantial improvement in the technical picture, XRP still has ground to cover: the $1.65 to $1.70 area is its first major resistance, and the most pressing obstacle, since the August rally was rejected near the $1.70 level. Any strong daily close above this level would remove the biggest visible resistance on the chart; XRP would then need an additional gain of roughly 18% to move from $1.70 to $2.
Although this move isn’t exceptional in a market that already produces large daily candles, XRP will likely need sustained trading volume and broader strength in the crypto market to maintain this momentum. Conversely, if XRP falls back below $1.50 again, the bullish scenario will weaken, while the support zone between $1.40 and $1.42—which is the former descending trendline—represents a more important support area. If XRP loses this zone, the current breakout will be considered a failure.
And for now, XRP has succeeded in completing the hardest part, reclaiming the $1.60 level and shedding the corrective pattern that lasted for a full month. The next confirmation level remains $1.70; if this resistance gives way, the $2 target becomes technically achievable.
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