XRP's Elusive $1.60 Mark: What It Takes for Breakthrough

XRP (CRYPTO:XRP) has been on an upward trend since its low of $1.25 on September 16, but it still hasn't managed to reclaim the critical $1.60 level.

The cryptocurrency surged above $1.60 on two consecutive trading days, peaking at $1.66 on September 23, but ultimately closed below that mark each time.

Traders often set their targets and alerts around round numbers like $1.60, making it a significant resistance level for XRP.

The sellers are primarily coming from buyers who purchased XRP during its spike to $1.70 on August 22 and older holders who bought above $2.75, eager to sell on any bounce and reduce their losses.