• Ripple has risen more than 16% since the beginning of this year
• Although the trend is positive, it has not yet got rid of resistance
• $0.3 to $0.5 is the key level of XRP/USD

This is the first extremely important trading week of this year. The three central banks (the Federal Reserve meeting, the European Central Bank and the Bank of England) are preparing to announce the fiscal policy in advance. Of the three, the determination of the Federal Reserve is particularly important, because it harms the American economy and has a further impact on the international scale.

The consensus is that the Federal Reserve meeting will raise the fund interest rate by 25 percentage points this time. The risk depends on that it will be more aggressive - either increase 50 bp or transmit radical information. Because of the forward-looking nature of the sales market, the harm made/talked about at the Fed meeting is undoubtedly on-site.

For the cryptocurrency market, the position of the US dollar is crucial in the near future. With the decline of the dollar in the same industry at the beginning of the investment year, it lost its strong support for leading the cryptocurrency.

Take Ripple as an example. The index has risen 16.21% since the beginning of this year, largely due to the weakness of the US dollar.

What does the analysis of technical indicators indicate about the next step of the price?

XRPUSD data chart of TradeView

When it is less than resistance, fluctuation is still bearish

Ripple followed BTC in January and bounced back from the low point. However, unless it can exceed the resistance, such bias is still bearish.

There are three things that apply to the bearish view.

First of all, the market price has been bearish in the past few months. Although cryptocurrency property has recovered recently, it is still less than resistance.

Second, the horizontal support around US $0.3 looks very large. There, a falling triangle becomes the focus, and the technical investors will explore the measurement moving towards a much lower level.

Finally, since its establishment, Ripple has only achieved a series of relatively low highs. No matter what the stock fundamentals are, Ripple cannot reach the previous low. From a technical point of view, this is also bearish, and it is very worthy of more attention from the data encryption duo, because this is likely to mean a large decline in the future.

Ripple and other leading cryptocurrencies.