XRP unfortunately could not overcome significant resistance over the weekend and is currently trading around $ 0.234. We come from falling 8% from $ 0.254. As can be seen in the following graph, the price is still maintained on an uptrend line, among all the main XRP cryptocurrencies it is the only one that maintains clean movements in this correction.
Although the pivot point is key at the moment, we see with more possibilities a rebound again at the 38% Fibonacci point, this level if we should consider it as an area where if it breaks down we would be entering a downtrend. The trend line and the 38% fibonacci level are very close so they can function as strong support to continue an upward movement this week.
At the moment we are at a level without an input signal, expecting a rebound in the aforementioned supports would be ideal. The volume in this correction is not very high, this is a good sign that bears do not have many intentions to lower the price so sharply at the moment.
You have to be very attentive to 38% fibonacci and uptrend line. They are two unit areas and they are key in the price of XRP currently.