Analyst Names Key Level for XRP Bulls

$XRP has staged a massive multi-week recovery, surging over 47% in just seven days to test a critical structural ceiling around the $1.50 level.

However, following an explosive, near-vertical rally off the August market lows, price action has once again arrived at a stubborn resistance zone.

According to popular chart analyst Dom, known on the X platform as @traderview2, clearing this overhead barrier is the ultimate prerequisite for the cryptocurrency to unlock its next major leg upward toward the $1.80 range.

With relatively thin resistance observed in higher-order books, market participants are watching closely to see if aggressive bullish volume can sustain a breakout above this multi-month pivot.

Failed attempts

Throughout the current year, $XRP bulls have attempted to breach and hold above this precise level on at least four separate occasions, with each attempt resulting in immediate rejection and a subsequent downtrend.

The analyst noted that before the prior capitulation phase, the price briefly spiked through the $1.50 mark to sweep liquidity but ultimately failed to establish structural acceptance above it.

Dom emphasized that if buyers can successfully consolidate and hold above this barrier, the $1.80 range becomes the primary destination, referred to by the analyst as the ticket.

The key level

A prominent green horizontal resistance zone near $1.50 dominates the chart, explicitly marked with cyan circles that illustrate the repeated rejections experienced in February, March, April, and May.

$XRP entered a prolonged capitulation phase that culminated in a drop to the Value Area Low near the $1.00 mark in early August.

From that macro bottom, the asset experienced a sharp V-shaped recovery with a near-vertical expansion candle pointing directly into the overhead resistance zone.

A long upper wick on the recent daily candle demonstrates strong buyer momentum tapping into liquidity above $1.50. However, the price has momentarily pulled back to digest those gains.

Source: cryptonews.net