XRP (XRP) recovered once again during the weekend, and bulls have kept trying to break past the $1.31 ceiling. The fact that they have failed two times already, including this session, could indicate that the selling pressure persists. That could ultimately result in a bearish breakout below the $1.26 area — a level that we see as the last line of defense for bulls to prevent a stronger decline to the $1.12 area. Trading volumes have jumped a bit during today’s session, rising by 38% in the past 24 hours to $1.7 billion. Although volumes are still thin at 2% of XRP’s circulating market cap, this spike signals that the market is once again turning its eyes to altcoins ahead of the Fed’s meeting.
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