thecryptobasic.com
XRP has encountered opposition at the $0.75 level for the third time in one year, failing to surpass this price point on each attempt.
The most recent rejection occurred yesterday, November 13, when XRP staged a notable rally back into the $0.70 range for the second time this week. During this rally, XRP peaked at $0.7480 after rebounding 16.4% from an intraday dip that had taken it to $0.6426.
Notably, the rebound coincided with Bitcoin’s new peak at $93,500 on Wednesday night. Despite the momentum from Bitcoin’s upswing, XRP was still unable to break through the $0.75 resistance level. However, it did set a new yearly high, surpassing the previous record from March.
At press time, XRP has retained most of its gains despite a broader market pullback led by Bitcoin, trading at approximately $0.6966.
Previous XRP Attempts at $0.75
Before this latest attempt, XRP had made several efforts to break through the $0.75 resistance earlier this year. In the first quarter, the crypto market was experiencing a bull market frenzy, with Bitcoin initially peaking at $73,500.
Though XRP lagged behind initially, it later staged a strong rally that saw its price rise from the $0.50 region to $0.70. However, it lost momentum at $0.7441 on March 13.
Earlier still, XRP also attempted to surpass the $0.75 level in the fourth quarter of 2023, when the ongoing bull season officially peaked momentum. On November 13, 2023, XRP encountered resistance again at $0.7404, unable to push further.
Interestingly, data from the Binance market shows that XRP actually touched $0.7500 on November 13, 2023, but retraced almost immediately, closing the day at $0.6702.
Crypto analyst Dusty BC highlighted the latest rejection in a post on X. One market observer noted that this rejection was likely due to the broader market pullback. Notably, Bitcoin revisited the $88K range after briefly touching $93K, suggesting the resistance wasn’t entirely due to XRP itself.
Promising Path Ahead of $0.75 Resistance
Meanwhile, analyst Dusty noted that once XRP overcomes the stubborn resistance at $0.75, the path to $1 becomes much more promising.
Another analyst who shares Dusty’s optimism pointed out that XRP could face additional resistance in the $0.90 range, where it peaked in July 2023. However, if XRP manages to break through this level, it could generate stronger momentum, potentially propelling its price far beyond $1.