XRP continues to encounter key resistance levels following a recent sharp recovery. The asset is heading towards an important supply zone that has repeatedly capped its rise, making the next attack on $1.60 particularly significant. On the daily chart, XRP is trading significantly above two moving averages after an explosive breakout in August. Recently, the price found strong support in the $1.25–$1.32 demand zone, which coincides with the higher moving average, before making another impulsive recovery.
This recovery has brought the asset to the main supply zone of $1.60–$1.70. Recent candles show that the price is consolidating around $1.54 after several unsuccessful attempts to break through to $1.60–$1.65, indicating that sellers remain active in this range. However, the structure remains positive as long as XRP maintains the recently formed higher lows. A breakout above the $1.60–$1.70 resistance zone would be a significant bullish confirmation and could pave the way for higher levels. Below, the key support remains the $1.25–$1.32 zone. Losing this zone would significantly weaken the current bullish structure and could drive the price to deeper support around $0.93–$0.97.
On the four-hour chart, a clear sequence of higher lows is developing since September, starting from a low around $1.25. The ascending trendline has supported the recovery and is now converging with the price around $1.51–$1.53. XRP recently climbed to $1.60 but faced resistance and gradually returned to the ascending support. Recent candles indicate an attempt to bounce off the trendline with a recovery to $1.54. Maintaining this structure could lead to another push towards the $1.60–$1.70 supply zone. The immediate task is to resume recent highs of $1.60–$1.62. A breakout above this area would open the upper part of the $1.60–$1.70 resistance zone and could support the continuation of the overall rally. Otherwise, a confirmed break below the ascending trendline would weaken the short-term structure. In this case, the next important support zone is likely to be the $1.42–$1.45 area. Failure in this zone could lead to a larger support zone of $1.22–$1.28, from where the last recovery began.
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