XRP Rejected at $1.60: Will a Breakthrough Propel It to $2?

Ripple's XRP faces a critical setback after being rejected at the $1.60 resistance level, with the token now down 1.2% over the past 24 hours. Despite a significant 33.8% decline since its March 2025 peak, XRP shows resilience with a nearly 10% weekly gain, fueling speculation over whether a decisive breach can finally unlock a path back to the $2 threshold.

When Will XRP Hit $2 Again?

XRP last traded above the $2 mark in January of this year. While 2025 was quite a bullish year for XRP, 2026 has been quite challenging. XRP climbed to a new all-time high of $3.65 in July of last year, but has since fallen by 58.4%.

The cryptocurrency market has been showing some signs of a recovery over the last few days. Bitcoin (BTC) has reclaimed the $74,000 price level, and other assets, including XRP, seem to be following its trajectory. The SEC recently classified Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and some other cryptocurrencies, as digital commodities. The classification could lead to a spike in investor confidence, leading to a continued upswing.

However, the crypto market is still reeling with increased volatility. The US-Iran conflict continues to worry investors. An escalation in the Middle East could lead to more exodus of capital from risky markets. XRP and other crypto assets could face a price dip under such conditions.

CoinCodex analysts anticipate XRP to rally over the coming months, but do not expect the asset to hit $2 anytime soon. The platform predicts XRP will climb to $1.81 on June 5, 2026.

XRP and the larger crypto market could experience a rally if the Federal Reserve prints more money and rolls out an interest rate cut. Some analysts expect the Fed to print more money to bring in some economic stability. Such a move could lead to more capital flowing into the crypto market.