XRP faces rejection near $0.56, can bears stage a comeback?

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XRP faces rejection near $0.56, can bears stage a comeback?
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The spot market painted a different picture to the OI. It has trended upward after 18 August to denote an influx of demand in the market. Could this see XRP break above the $0.56 resistance?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

XRP has fallen to $0.517 since then. The OBV did not note a recovery, which indicated selling pressure continued to be strong. The RSI was below neutral 50, the same as it has been throughout August. The reading of 29.5 at press time showed intense bearish momentum was in play on the H12 chart.

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