XRP Price Targets $1.60 Breakout: Is The Bull Run Back?

XRP price is rising and gaining pace above the $1.480 zone, showing positive signs and potentially aiming for a breakout above the $1.60 level. The price is now trading above $1.520 and the 100-hourly Simple Moving Average. A key bearish trend line with resistance at $1.4450 was broken on the hourly chart of the XRP/USD pair. The pair might gain momentum if it clears the $1.600 resistance. XRP price formed a base and recently started an upward move, clearing the $1.50 level and trading above the 100-hourly Simple Moving Average. The price is above the 61.8% and 76.4% Fib retracement levels of the downward move from the $1.6339 swing high to the $1.2594 low. On the upside, the price might face resistance near the $1.5850 level, with the first major resistance at $1.600. A clear move above the $1.6350 resistance might send the price toward the $1.6650 resistance. If XRP fails to clear the $1.600 resistance zone, it could start a downside correction, with initial support on the downside near the $1.500 level.