Will $0.5 Finally Fall? (Ripple Price Analysis)

Ripple price has been fluctuating around the critical support level at $0.47, witnessing minor fluctuations and sideways movements. This price range has consistently supported XRP, indicating strong demand and an increased likelihood of a bullish reversal in the medium term.

by Cheyenne

Daily chart

A closer look at the daily chart reveals that Ripple is consolidating within a sideways triangle pattern, indicating a balance between buying and selling pressures and uncertainty about the overall trend direction.

Recently, the price reached the bottom of this pattern at $0.47, with sellers struggling to break below this critical threshold.

This range has been holding strong support since May 2023, highlighting continued demand and buying pressure. Therefore, a bullish reversal appears likely in the medium term, which could lead to slight upward moves towards the upper boundary of the triangle.

Conversely, a sudden drop below this crucial support could lead to a large long-term liquidation, causing a sharp decline in the near term.

4 hour chart

On the 4-hour chart, Ripple is showing a short phase of sideways movement and uncertain price action around the crucial support band at $0.47, forming a bearish continuation flag pattern.

The price recently fell to the lower trend line of the pattern and the major support area of ​​$0.47.

If sellers manage to break through this level, a large and rapid downward move is expected. However, the MACD has recently turned green, indicating a potential bullish bounce. This signal, combined with the prevailing demand near this critical support, indicates increasing buying pressure and a possible bullish reversal in the medium term.