This eased concerns about the economic consequences of the Omicron variant and restored investor confidence, as seen by a positive tone in the equities markets. Thus, the prevalent upbeat market mood undermined the US dollar, which was seen as a key factor that provided a modest lift to the [[XRP/USD]] pair.

On the 2-hourly timeframe, XRP/USD is steady below the resistance level of $0.8465. It is currently trading at the $0.8110 level, crossing below the 20 and 50-day simple moving averages, with resistance at $0.8432.

Lately, the [[ XRP/USD]] has closed a “bearish engulfing” pattern, indicating a spike in selling pressure among investors. Therefore, the selling bias dominates below the $0.8435 level.

The double top pattern on the 4-hour timeframe is likely to act as a significant resistance at $0.8465. A breakout at the $0.8465 resistance level could drive a bullish trend until levels of $0.8880 or $0.9600. Conversely, a violation of the $0.8000 support zone could trigger a sell-off until 0.7560. So let’s keep an eye on $0.8000, as the bearish bias dominates below this level and vice versa. Good luck!