Weekend Crypto Watch: XRP Faces $1.65 Breakout Test as 2022 Bottom Pattern Returns

XRP Faces $1.65 Showdown as Bulls Eye a Bigger Breakout

XRP is approaching $1.65, a key resistance level that could determine whether its recent recovery has further room to run or stalls at another major hurdle.

Market analyst EGRAG CRYPTO has identified $1.65 as XRP’s current battleground, citing its importance on both the decline and recovery. A decisive reclaim of the level, followed by sustained trading above it, could signal a stronger shift in XRP’s market structure.

XRP is already within striking distance. CoinCodex data shows the top altcoin trading at $1.59, leaving bulls with only a narrow gap to close before testing the key resistance.

Is there more than meets the eye? Well, momentum has improved since XRP broke out of a 2-week trading range. Adding to the bullish backdrop, large holders reportedly accumulated roughly 190 million XRP in a single day, while rising activity on the XRP Ledger points to renewed market interest.

Still, simply touching $1.65 may not be enough. Bulls need to break above the level and turn it into support. This would provide stronger confirmation that the latest breakout has staying power rather than being another short-lived rally.

50-Week EMA Adds to the Bullish Setup