XRP Surges Past $1.50, Bulls Eyeing Next Resistance at $1.56
XRP has broken above the $1.50 mark after five weeks of consolidation on its weekly chart, and traders are now eyeing the next major resistance level at $1.56.
The cryptocurrency gained about 5.5% over the past week, with a brief spike to $1.57 before settling in the $1.51, $1.54 range.
This move has pushed XRP above a psychologically important level, supported by stronger trading volume. The token is now testing resistance around $1.55, $1.56, and a weekly close above this zone could strengthen the bullish technical setup.
Veteran trader Peter Brandt recently shared an XRP chart with a long-term price target of $5.40, but cautioned traders against interpreting technical projections as guarantees. Macro investor Raoul Pal defended Brandt's analysis, suggesting that traders approach market forecasts in terms of probabilities rather than treating individual targets as certain outcomes.
The coming sessions will be crucial in determining whether XRP can convert its latest breakout into a sustained upward move, with the $1.55, $1.56 region remaining the key level to watch.