XRP Surges Past $1.60, Sets Sights on $2 Target

XRP has broken above $1.60 and invalidated its descending resistance structure that dominated price action for almost a month, making one of its strongest technical moves since August.

The breakout comes after a quick recovery from about $1.28, with XRP increasing by more than 25% from its most recent local low.

XRP has easily surpassed each of the daily chart's major moving averages and has reclaimed $1.60, escaping its month-long corrective structure.

The next confirmation level is $1.70, and if that resistance yields, $2 becomes a technically plausible target for XRP.