Key Insights:

• XRP fell by 2.11% on Sunday. A partial reversal of the Saturday 4.97% rally left XRP up 5.54% for the week.

• The crypto news wires were silent, leaving XRP in the hands of the broader crypto market, which saw a four-day winning streak end.

• However, the technical indicators are bullish, with XRP sitting above the 200-day EMA.

On Sunday, XRP fell by 2.11%. Partially reversing a 4.97% rally from Saturday, XRP ended the week up 5.54% to $0.3431.

A bullish start to the day saw XRP rise to a high of $0.3611 before hitting reverse.

Coming up against the First Major Resistance Level at $0.3605, XRP slid to a low of $0.3412.

However, steering clear of the First Major Support Level at $0.3359, XRP found modest support to end the week at $0.3431.

There were no crypto news stories or updates from the SEC v Ripple case to influence.

Economic and Fed Policy Uncertainty Tested Investor Resilience

XRP tracked the broader market on Sunday. A four-day winning streak ended, with investors locking profits ahead of the new week.

Uncertainties over the July Fed interest rate hike, the US economic outlook, and the regulatory landscape remained crypto market headwinds.

There were also no updates from the SEC v Ripple case and, importantly, the SEC on the Hinman ruling to influence.

Ahead of the Tuesday court ruling in favor of Ripple, the SEC had filed more than six motions, attempting to shield the William Hinman documents on the attorney-client privilege. The sheer number of attempts suggests a likely appeal that may have prevented a break out in response to the ruling.

XRP Price Action

At the time of writing, XRP was up 4.55% to $0.3587.

A bullish start to the day saw XRP rise from an early low of $0.3429 to a high of $0.3593.

XRP broke through the First Major Resistance Level (R1) at $0.3557.

Technical Indicators

A hold above R1 and the $0.3485 pivot would support a run at the Sunday high of $0.3611 and the Second Major Resistance Level (R2) at $0.3684.

A broad-based crypto rally would support a return to $0.36 levels.

In the case of an extended crypto rally, XRP could test resistance at $0.3750. The Third Major Resistance Level (R3) sits at $0.3883.

A fall through R1 and the pivot would bring the First Major Support Level (S1) at $0.3358 into play.

Barring an extended sell-off, XRP should avoid sub-$0.33 and the Second Major Support Level (S2) at $0.3286.

The Third Major Support Level (S3) sits at $0.3087.

This morning, the EMAs and the 4-hourly candlestick chart (below) sent a bullish signal.

At the time of writing, XRP sat above the 200-day EMA, currently at $0.3443. Today, the 50-day EMA pulled away from the 100-day EMA and narrowed to the 200-day EMA, both indicators price positives.