- XRP hits $1.65 resistance, showing multiple daily rejections on Bitstamp chart.
- Analyst predicts a breakout above $1.65 could open path toward $2.
- Price action shows descending wedge pattern forming in early 2026.
XRP has been trading near $1.65, facing repeated resistance as market activity compresses. Analysts note a descending wedge pattern forming, signaling a possible breakout. If bullish momentum strengthens, XRP could move toward $2. Traders are closely watching price action for clear signs of direction in early 2026.
XRP Faces Resistance and Market Compression
XRP has faced multiple rejections at the $1.65 resistance level, according to CryptoBull on X. The 1-day chart against the U.S. dollar on Bitstamp shows price compressing within descending trendlines, forming a tightening wedge pattern into early 2026.
The chart highlights a sharp pullback following the last rejection, shown in a marked blue box. Analysts suggest that breaking above $1.65 may clear resistance and open a path toward $2, provided bullish momentum strengthens.
Technical Patterns and Trading Outlook
XRP’s price action in the narrowing range suggests consolidation before a possible breakout. Descending wedge patterns often indicate balance between buyers and sellers before a directional move occurs.
CryptoBull commented, “XRP is testing key resistance at $1.65. If momentum grows, we may see a move toward $2 soon.” Trading volumes reflect caution near $1.65, and a confirmed breakout could attract additional buyers. Failure to breach may continue consolidation or minor pullbacks.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
