On my daily chart , XRP has reversed from a strong breakout recorded over the weekend, which saw the sixth-largest cryptocurrency touch the $0.8500 resistance. The recent upswing helped the cryptocurrency briefly acquire a bullish standing after it topped the 100 EMA in the rally.

However, price action appears to be out of the reach of bears at the moment, as XRP maintained a mild bullish cycle pattern. The cryptocurrency now trades within a bullish wedge as bulls identify the $0.8000 resistance as the near-term level to defeat to regain a bullish outlook. That said, the coming few days, especially with the US Fed policy meeting coming up, will play a crucial role in Ripple’s medium-term trend.

Meanwhile, my resistance levels are $0.8000, $0.8250, and $0.8500, and my support levels are $0.7300, $0.7000, and $0.6800.

Total Market Capitalization: $1.73 trillion

Ripple Market Capitalization: $36.7 billion

Ripple Dominance: 2.12%

Market Rank: #6