The XRP (XRP) price is trading above a long-term horizontal support area and ascending support line. Whether it breaks down or bounces will likely determine the direction of the future trend. The price action from the weekly chart shows that XRP had been decreasing underneath a long-term descending resistance line since April 2021. It made four unsuccessful attempts (red icons) before falling to a low of $0.28. Afterward, the Ripple price broke out from the line in Sept. 2019. However, it was rejected by the $0.58 resistance area and had been decreasing since. The most bullish development is currently the fact that the decrease validated the previous resistance line as support (green icon). This is common after breakout. However, the RSI gives conflicting signs. On the one hand, the bullish divergence trend line is still intact. On the other, the indicator is below 50. Therefore, whether the XRP coin price breaks out above the $0.58 resistance area or down from the $0.32 support area instead will likely determine the future price prediction. Bitcoin and Ethereum Get a Boost as CPI Shows Inflation Cooling The total value of the crypto market rebounded 4.4% over the course of a day but was still short of the $1 trillion mark that it dipped below earlier this week. The total market is now worth $913 billion, according to CoinGecko. Ethereum (ETH), the world�s second-biggest cryptocurrency, had climbed 6% in value across 24 hours but was still down 16.5% since last Friday, likely due in part to FTX�s meltdown. Dogecoin (DOGE) experienced a similar boost, climbing 4.7% on the day but still trailing 26.8% behind where it was this time last week. But Polygon (MATIC) has enjoyed weekly gains of 13.8% and a whopping 16.3% jump in the past day. Meanwhile, Bitcoin (BTC) inched 3.7% higher and was trading at just over $17,379. Despite the doom and gloom for the rest of the market, Polygon has had a run of good news this week, announcing a partnership with Meta�s Instagram that will let users mint and sell NFTs. On Thursday, the company also said it was developing digital collectibles for Disney employees after participating in the entertainment empire�s accelerator program.Weitere Informationen