XRP Must Clear $1.66 for Upside Breakout

XRP's recent price action has been a subject of interest among analysts, and one expert believes that the token still has room to grow. According to Coinpedia Fintech News, XRP's chart shows two significant levels that must be broken for a potential upside breakout.

The analyst points out that XRP rallied strongly after its August low near $0.985 and bounced again from a low on September 14-15. Since September 23, the token has been pulling back, but both recent pullbacks were slow, choppy, three-step declines, while the rallies before them were fast and strong.

The expert believes that this contrast is a sign of the larger trend still pointing up. The latest drop also made a fresh low on Friday, which completes a textbook correction pattern, according to the analyst.

However, there is no confirmed reversal yet. To confirm a potential upside breakout, XRP must clear two levels: $1.56 and $1.66. The latter marks the start of a wide resistance zone that runs from $1.66 to $2.80, where XRP also reacted in February, March, and May.