It has been difficult for Bitcoin ( ) and the cryptocurrency markets to start a strong sustained recovery while the United States dollar is near its multi-year high and the U.S. equities markets are near their June lows.

If the price rises and breaks above the overhead resistance at $0.56, the XRP/USDT pair could soar to $0.66.
Conversely, if the price turns down and breaks below $6, the pair could drop to the strong support at $5.66.

If the price rebounds off this support, it will suggest that bulls continue to view the dips as a buying opportunity.

Alternatively, if the price turns down sharply from the current level and breaks below the 20-EMA, it will suggest that the bulls may be rushing to the exit.
Source: Cointelegraph
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