While it showed solid bullish prospects over the weekend, upbeat expectations for Ripple were abruptly cut short at the Asian market open on Monday, forcing the cryptocurrency below the critical $0.3500 support.
XRP is now on the verge of retesting my ascending trendline at around $0.3400. While this line could provide some cushion to the fall, we could see a bearish extension towards $0.3200 in the coming days, ahead of the US FOMC meeting.
Meanwhile, my resistance levels are $0.3500, $0.3600, and $0.3700, and my support levels are $0.3400, $0.3300, and $0.3200.
Total Market Capitalization: $1.01 trillion
Ripple Market Capitalization: $16.6 billion
Ripple Dominance: 1.66%
Market Rank: #7