XRP Bulls Eye $1.65 Breakout as Market Structure Hangs in the Balance
XRP is facing a crucial test at $1.65, a level that could determine whether its recent recovery has further room to run or stalls.
Market analyst EGRAG CRYPTO has identified this price 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. Currently, XRP is trading at $1.59, leaving bulls with only a narrow gap to close before testing the key resistance.
The bullish backdrop has improved since XRP broke out of a two-week trading range, and large holders have reportedly accumulated roughly 190 million XRP in a single day. Additionally, rising activity on the XRP Ledger points to renewed market interest.
Bulls need to break above $1.65 and turn it into support for stronger confirmation that the latest breakout has staying power rather than being another short-lived rally.