Following yesterday’s Russia-Ukraine war-induced crash to the $0.6231 low, XRP has posted a goodish bounce above the $0.7000 figure after the lingering market uncertainty lifted, prompting investors to purchase the coin at a discount .

The sixth-largest cryptocurrency now faces resistance from the daily 50 SMA at $0.7245 along with the $0.7300 resistance mark. Nonetheless, XRP has a long way to go to boast a bullish recovery amid the trending macroeconomic factors. With the US Fed set to hike its rates next week, XRP’s near-term bearish woes are far from over.

Meanwhile, my resistance levels are $0.7300, $0.7500, and $0.8000, and my support levels are $0.7000, $0.6800, and $0.6500.

Total Market Capitalization: $1.76 trillion

Ripple Market Capitalization: $34.2 billion

Ripple Dominance: 1.94%

Market Rank: #6