XRP Price Faces $1.65 Breakout Test After 45% Weekly Rally

XRP price has staged one of its strongest short-term recoveries of 2026, climbing from around $1 toward $1.50 within days. XRP briefly pushed above $1.60 during the rally before sellers returned near the $1.65 resistance area.

CoinMarketCap data showed XRP closing near $1.00 on Aug. 18 before reaching about $1.52 on Aug. 23. The token traded around $1.47–$1.48 on Aug. 24 after giving back part of those gains.

XRP Price Rally Lifts Weekly Gains Above 45%

XRP price recorded one of the strongest weekly moves among large crypto assets during the latest market rebound. The token gained about 53% over the week, marking its best weekly performance since November 2024. The move followed months of selling pressure across the wider crypto market.

The rally carried XRP from $0.99 to a weekly high near $1.70. XRP crypto traded around $1.48 after giving back part of the advance. Even after the pullback, the token kept most of its weekly gains and remained sharply higher from its recent low.

Crypto analyst EGRAG Crypto identified $1.50 as the immediate resistance zone on the three-day chart. XRP recently moved back into that area after reclaiming the 21-day exponential moving average. The next level on the analyst’s roadmap sits between $1.60 and $1.65.

EGRAG said a full weekly candle close above $1.65 would strengthen the breakout structure. If XRP crypto fails at that level, the analyst expects price to continue moving within the broader falling structure. His chart places structural support near $1.10 to $1.18, while a deeper macro support region sits between $1.05 and $0.85.

The longer-term chart also shows the 50 EMA moving lower while the 333 EMA rises. That setup traps XRP between two major moving averages. EGRAG views that convergence as a key area that could shape the next larger move.

XRP Momentum Faces a New Technical Test

Market analyst ChartNerd identified a developing bearish divergence on XRP’s daily chart. The daily Relative Strength Index 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 during that earlier RSI peak.

ChartNerd said the setup shows price momentum may be losing strength despite the recent recovery. The chart also places XRP price 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 crypto to extend the rebound toward $1.80 because the weekly RSI has more room to rise. Under that scenario, XRP price could climb further while the daily bearish divergence becomes more pronounced.

Institutional Activity Adds Another XRP Catalyst

Canary Capital CEO Steven McClurg said growing lending, credit and yield activity on the XRP Ledger could support wider institutional use. He pointed to projects such as Cicada Credit and Clearpool, which bring institutional lending infrastructure and borrowers to the network.

McClurg said XRP could move above $3.40 within the next year, which wouldn’t surprise him. He tied 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 trading volume rose 273% from March levels, while XRP generated $399 million in 24-hour turnover on the exchange. The token ranked ahead of Bitcoin and Ethereum in terms of trading volume.