XRP has encountered resistance at the $0.75 price point for the third time in 12 months, once again failing to break through this key level. The latest rejection occurred on November 13, 2024, when XRP made an impressive rally, climbing back into the $0.70 range. During this rally, the token peaked at $0.7480, reflecting a 16.4% bounce from an intraday low of $0.6426.

This rebound coincided with Bitcoin’s new all-time high of $93,500 on November 13, but despite Bitcoin’s upward momentum, XRP was unable to surpass the $0.75 resistance. Still, XRP managed to set a new yearly high, surpassing its previous peak from March 2024.

At the time of writing, XRP is trading at approximately $0.6966, holding onto most of its gains despite a broader pullback in the market, largely influenced by Bitcoin’s recent price fluctuations.

Previous Attempts at Breaking $0.75

XRP’s failure to breach the $0.75 level has been a recurring theme throughout 2024. Earlier in the year, during the first quarter, the cryptocurrency market was in a strong bull phase, fueled by Bitcoin’s surge past $70,000. XRP had a notable rally, climbing from the $0.50 range to $0.70, only to face resistance at $0.7441 on March 13. Despite a strong start, the price could not push past this level.

The $0.75 resistance also proved difficult in the latter part of 2023. In November 2023, during the peak of the bull market, XRP faced a similar challenge. On November 13, 2023, XRP reached $0.7500 briefly but quickly retraced to close the day at $0.6702, once again failing to establish a sustained breakout.

Market data from Binance supports the notion that XRP has encountered similar resistance multiple times, indicating that the $0.75 level remains a significant barrier for the cryptocurrency.

The Role of Broader Market Sentiment

Crypto analyst Dusty BC highlighted that XRP’s rejection at the $0.75 level could also be attributed to broader market factors. The broader pullback in the crypto market, particularly with Bitcoin’s price revisiting the $88,000 range after briefly reaching $93,000, likely contributed to the difficulty XRP faced in overcoming its resistance.

It’s important to note that while XRP’s rejection is notable, it is not necessarily a sign of weakness within the token itself. The broader market dynamics, particularly Bitcoin’s price movement, have a strong influence on altcoins, and XRP’s resistance may have been more of a reflection of the overall market retracement rather than a technical flaw within XRP itself.

What’s Next for XRP? Path to $1

Despite the recent rejection, analysts remain optimistic about XRP’s long-term prospects. Dusty BC and others suggest that if XRP can break through the $0.75 resistance, the path to $1 becomes much clearer. Once above the $0.75 mark, XRP could gain significant momentum, making it easier to push through further resistance levels, particularly in the $0.90 range.

XRP’s price has previously encountered resistance in the $0.90 range, particularly in July 2023, when it peaked before retreating. If XRP manages to break this level in the future, the token could experience stronger upward momentum, with the potential to surpass $1.

The focus now is on whether XRP can maintain its current position in the $0.70 range while continuing to challenge the $0.75 resistance. A sustained break above $0.75 could pave the way for further gains, but it will need to overcome this key level first.

Conclusion: XRP Faces Key Resistance at $0.75

XRP’s failure to break the $0.75 resistance level for the third time in the past 12 months highlights the difficulty the cryptocurrency faces in advancing past this price point. While the recent price action shows promise, with XRP setting a new yearly high and holding onto gains despite a broader market pullback, the $0.75 level remains a significant barrier.

The outlook for XRP largely depends on its ability to break through this resistance. If successful, the next target could be the $1 mark, though it may face additional resistance along the way. For now, XRP traders will be watching closely to see if the cryptocurrency can maintain its current momentum and finally overcome the $0.75 level.