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28.06.202215:11 Forex Analysis & Reviews: XRPUSD technical analysis for June 28, 2022.

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Red line - major resistance

Yellow line -short-term resistance

XRP is trading around $0.34. Price remains in a bearish trend since the March high around $0.90. With a decline of more than 50% since then, bears remain in full control of the trend. There is no sign of stopping this deterioration. XRPUSD recently tried to bounce higher towards $0.40 but price got rejected at the previous support which is now resistance. XRPUSD is also providing us with a bullish RSI divergence. Medium-term trend remains bearish. Bulls will need to recapture $0.41 at least in order to hope for a bigger trend reversal. Until then bears are in control.

Alexandros Yfantis
Analytical expert of InstaForex
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