XRP Price Prediction: Buyers Step In at $0.48 Level, Setting Stage for Potential Recovery
The downward trend in XRP’s price has paused as strong demand at the $0.48 level has led to a temporary halt in the correction trend. The daily chart shows long rejection candles, indicating buyers’ efforts to maintain this critical support level. This has resulted in the formation of two higher lows over the past three weeks, signaling a potential reversal in the XRP price.
As Bitcoin surpasses the $60,000 mark, a broader relief rally is gaining traction in the market, setting the stage for further upward movements in XRP. The recent surge in XRP price to $0.527, recording a 10% increase in the last three days, reflects the renewed buying pressure at the $0.48 level.
According to Santiment, there has been a notable increase in the movement of dormant XRP tokens in early May, similar to a spike observed on April 13th, which preceded a 16% drop in XRP’s price. However, Santiment suggests that the recent movement of old tokens could be driven by “buy the dip” interests among key stakeholders, rather than signaling a potential drop.
The surge in open interest on exchanges, coupled with a mild increase in XRP prices, indicates a positive sentiment among investors. If the recovery momentum persists, XRP price could breach the overhead trendline and potentially surge by 18% to hit resistance at $0.64.
Technical indicators such as the Exponential Moving Average and Moving Average Convergence Divergence suggest a potential reversal in XRP’s price, with buyers stepping in at the $0.48 level. The bullish crossover between MACD lines indicates rising buying momentum at the support level.
Overall, the current market dynamics point towards a potential recovery in XRP’s price, with buyers showing strong interest at the $0.48 level. As the broader market sentiment improves, XRP could see further upward movements in the coming days.
Source: [Coingape](https://coingape.com/markets/xrp-price-prediction-xrp-major-reversal-buyers-step-in-at-0-48/)
