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In a separate development, an unknown investor has withdrawn 50.29 million $XRP from Bitget to a private wallet.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.