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$XRP would only be ready for a breakout once it starts seeing weekly and monthly closes above a crucial resistance mark.
This is according to a recent analysis from well-known market commentator Matt Hughes (“The Great Mattsby”). Hughes confirmed that $XRP does have a breakout-ready setup, but remains stuck under the $1.51 resistance. He believes a close above this mark would set the stage for the breakout.
Key Points
- $XRP has faced declines alongside the broader crypto market, down more than 25% this year to trade at $1.37.
- Chart data shows $XRP has consistently faced a roadblock at Fib. 0.5 aligning with the $1.51 price.
- Hughes believes $XRP could begin its breakout push once prices breach the $1.51 resistance mark.
- A separate analysis suggests this breakout could push the $XRP price to a new all-time high of $15.
$XRP Facing Resistance at Fib. 0.5
Notably, Matt Hughes agrees that $XRP’s current setup looks breakout-ready, but he insists that until it breaches the Fibonacci 0.5 retracement, this breakout may not begin.
For context, this level, which aligns with the $1.51 $XRP price, has consistently acted as a roadblock to $XRP’s upward push on numerous occasions over the past four months, especially after the market-wide collapse earlier this year.
Notably, after $XRP dropped to the $1.1 floor price on Feb. 6, it staged a recovery push alongside the rest of the market. This push allowed it to recover some of the losses of the market crash, but after breaching $1.51 to reach $1.66 a week later, $XRP failed to sustain the momentum and eventually collapsed below $1.51.
The asset made another attempt to hold above this area in March following the escalation of the U.S.-Iran conflict. However, after the price hit $1.60 on March 17, $XRP collapsed again, falling below the $1.51 area.
$XRP 1M Chart | Matt Hughes
Meanwhile, this month, $XRP attempted to overcome the resistance level but has again collapsed after reaching $1.54 on May 14. With $XRP currently changing hands at $1.37, Hughes believes that, while its setup looks promising, it must start recording weekly and monthly closes above $1.51 before a breakout can occur.
$XRP Price Targets Beyond $1.51
Notably, Hughes’ analysis came as a response to a recent market exposition from Celal Küçüker, another prominent market expert.
Specifically, Küçüker suggested in his analysis that $XRP “looks massive for a breakout,” calling attention to a descending trendline on the 1-week chart that has capped the asset’s upside momentum since it dropped from the $3.6 all-time high in July 2025.
$XRP 1W Chart | Celal Kucuker
Since then, $XRP has continued to record lower highs, leading to the formation of the trendline, which has acted as a resistance area. With $XRP now close to the apex of the trendline, Küçüker believes the token is on the verge of a breakout. While Hughes agrees with this, he believes $XRP must first close above $1.51.
Once the asset engineers this breakout, Hughes’ chart points to another Fibonacci resistance area around $2.71, which aligns with the 0.618 retracement. This is the last Fib retracement resistance before the $3.6 all-time high. As for Küçüker, he believes the breakout could push $XRP to $15, challenging Ethereum’s position as the second-largest crypto asset.
