XRP has staged a sharp recovery, rebounding from roughly $1 during the latest cryptocurrency market rally and briefly approaching $1.70 before sellers returned. The move has left traders focused on resistance between $1.54 and $1.65.

Data from CoinMarketCap showed XRP near $1.00 on Aug. 18 before the token climbed above $1.50 by Aug. 23. On Aug. 24, XRP traded around $1.48–$1.50 after giving back part of the rally.

Weekly Gain Among the Strongest for Large-Cap Crypto

XRP recorded one of the strongest weekly moves among large crypto assets during the latest market rebound. The token gained about 53% over the week, lifting its weekly advance above 45% and marking its best weekly performance since November 2024 — a stretch that coincided with a market-wide crypto rally following the U.S. presidential election. The latest rally followed months of selling pressure across the wider crypto market.

The advance carried XRP from $0.99 to a weekly high near $1.70. After the pullback, XRP traded around $1.48, keeping most of its weekly gains and remaining sharply higher than its recent low.

Crypto analyst EGRAG Crypto identified $1.50 as the immediate resistance zone on the three-day chart, an area XRP recently re-entered after reclaiming the 21-day exponential moving average, a trend indicator that gives greater weight to recent prices. The next level on his roadmap sits between $1.60 and $1.65, and he said a full weekly candle close above $1.65 would strengthen the breakout structure.

If XRP fails at that level, EGRAG expects the price to continue moving within its broader falling structure. His chart places structural support near $1.10 to $1.18, with a deeper macro support region between $1.05 and $0.85. The longer-term chart also shows the 50 EMA moving lower while the 333 EMA rises, a setup that traps XRP between two major moving averages. EGRAG views that convergence as a key area that could shape the next larger move.

Momentum Faces a New Technical Test

Market analyst ChartNerd identified a developing bearish divergence on XRP's daily chart — a pattern in which price pushes higher while the momentum indicator fails to keep pace. The daily Relative Strength Index, an oscillator that scores the speed and size of price moves on a 0-to-100 scale and treats readings above 70 as overbought, has climbed to around 88, matching levels seen near XRP's July 2025 all-time high. XRP traded near $1.48 at press time, well below the $3.65 price recorded at that earlier RSI peak.

According to ChartNerd, the setup indicates that price momentum may be losing strength despite the recent recovery. The chart also places XRP below the 50-week exponential moving average near $1.54; a move back above that level would give buyers room to test higher resistance.

The analyst still sees scope for XRP to extend the rebound toward $1.80, because the weekly RSI has more room to rise. Under that scenario, the price could climb further while the daily bearish divergence becomes more pronounced. ChartNerd also warned that the divergence could precede a decline toward $1.30.

Institutional Activity Adds Another Catalyst

XRP is the native asset of the XRP Ledger, a public blockchain closely associated with Ripple and used for payments and settlement. Canary Capital CEO Steven McClurg — whose digital-asset investment firm was among the first to file for a spot XRP exchange-traded fund in the United States — said growing lending, credit and yield activity on the XRP Ledger could support wider institutional use of the network. He pointed to projects such as Cicada Credit and Clearpool, which bring institutional lending infrastructure and borrowers to XRPL.

McClurg said XRP could move above $3.40 within the next year without surprising him, tying that view to expanding financial activity on XRPL rather than the latest price move alone. He also said he still considers the broader crypto market to be in a bear market.

South Korea recorded stronger XRP activity during the rebound. Upbit, the country's largest crypto exchange by trading volume, saw XRP volume rise 273% from March levels, and XRP generated $399 million in 24-hour turnover on the exchange, ranking ahead of Bitcoin and Ethereum by volume.

Originally published by The Market Periodical.