Ripple's Escrow Return Puts XRP Price Near $1.59 Resistance

Ripple's $700 million escrow return has put XRP's price near a key technical resistance area, testing its ability to reclaim $1.59.

The recent recovery of XRP is now facing a crucial test as it approaches the $1.54-$1.59 region where several technical analyses identify a concentration of selling pressure.

Ripple's return of 700 million XRP, worth more than $1 billion, to escrow following its scheduled October token release has brought fresh attention to both XRP's available supply and its near-term price structure.

The current XRP price is close to $1.49, leaving roughly 7% between the market and the $1.59 resistance identified in several chart analyses.