XRP faces a lower timeframe resistance region, can it punch through

ambcrypto.com:

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Bitcoin showed a bearish divergence develop over the past few days between momentum and price action. This suggested a pullback was likely.

The FOMC meeting on 21-22 March could see high volatility across the market. XRP has traded within a range since November. It had a bullish outlook at the time of writing.

Realistic or not, here’s XRP’s market cap in BTC’s terms

The market structure was bullish, but that does not necessarily mean the price will go to the range highs at $0.415 soon. Yet, it did signal bulls had the upper hand after last week’s trading.

Source: XRP/USDT on TradingView

Highlighted in red was a zone of resistance at $0.39 that has been important in the past two months. It acted as support in mid-February, but over the past week, it has served as resistance. The RSI on the 4-hour chart showed the RSI bounced from the neutral 50 level. It indicated the momentum remained on the side of the bulls.

The CMF was also above +0.05 and showed significant capital flow into the market and backed up the argument of buying pressure strengthening recently.

The mid-range level at $0.374 acted as support during the latest bounce. An H4 trading session close beneath this level would flip the market structure to bearish.

At the time of writing, the signs remained bullish. Lower timeframe traders can wait for a flip of the highlighted resistance region to support before looking to buy.

How much are 1,10,100 XRPs worth today?

More aggressive traders can look to sell the retest of the $0.39 resistance. They would need to monitor their risk strictly as the trade would be against the market