Every proof of the spectral radius formula $r(\xi) = \limsup \|\xi^n\|^{1/n}$ for Banach algebras (that I have seen) uses the fact, that if $\zeta \in \mathbb{C}$ with $|\zeta| \geq s > r(\xi)$ (for $s>0$), then the series $$\sum \xi^n\zeta^{-n}$$ converges uniformly and absolutely on $\{\zeta \colon |\zeta| \geq s\}$. But isn't this already using the fact, that $r(\xi) \geq \limsup \|\xi^n\|^{1/n}$, which we essentially wanted to prove in the first place?
I guess the question basically boils down to why holomorphicity of the function $\zeta \mapsto (\zeta-\xi)^{-1}$ on the resolvent $\rho(\xi)$ of $\xi$ implies, that $(\zeta-\xi)^{-1} = \sum \xi^n\zeta^{-n-1}$ for all $|\zeta| > r(\xi)$.