XRP Needs to Clear These Levels Before a Potential Breakout

Popular crypto YouTuber and analyst Daan de Rover suggests that XRP could make a strong upward move if it breaks through several major resistance levels on the daily chart.

Notably, Rover made the assertion after analyzing the Binance XRP/USDT daily chart, which shows XRP trading around $1.50 after recovering sharply from its August low near $0.95. However, the recovery has now brought XRP back into a key resistance zone that has previously capped its upside.

Two Major Hurdles for XRP

The first major hurdle sits around $1.55. This level has repeatedly attracted selling pressure and now represents the immediate barrier XRP must overcome.

According to the chart, XRP failed to sustain moves above $1.55 on several occasions this year, including in March and June. Although it briefly broke above the level on August 22, XRP fell back below it the following day.

Last week, XRP climbed as high as $1.65, but the breakout failed to hold, sending the price back below the key resistance zone.

Beyond $1.55, Rover identifies $1.75 as the next major resistance level. XRP last traded around this area in late January but has since failed to reclaim it. Therefore, a sustained move above $1.55 could bring the higher $1.75 resistance into focus.

Rover argues that XRP could soar if it successfully clears these major resistance levels. However, the analyst did not provide a specific price target for the potential move.

$1.325 Support Remains Important

While the chart highlights resistance above XRP, it also identifies an important support zone around $1.325.

A sustained decline below this area would weaken the bullish setup outlined by the analyst. However, the reference to $1.25 in the original analysis appears inconsistent with the chart’s highlighted $1.325 support level, so these levels should be treated separately rather than as the same threshold.

At press time, XRP trades well above this support, with each coin priced at around $1.50, up 1.25% over the past 24 hours.

Whale Orders Highlight $1.65 Resistance

Meanwhile, crypto analyst CW has drawn attention to whale activity around XRP’s current price.

According to the analyst, significant sell orders are clustered around $1.65, creating another potential resistance zone. Conversely, large buy orders around $1.4327 could provide support if XRP pulls back.

In a separate development, an unknown investor has withdrawn 50.29 million XRP from Bitget to a private wallet. The transaction has attracted attention because it occurred shortly after the exchange reopened withdrawals following last week’s security breach, during which $351 million worth of crypto assets, including XRP, were stolen.

However, it remains unclear whether the large XRP withdrawal was related to concerns surrounding the hack. The timing has added another point of interest to XRP’s recent market activity.