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Ripple price is fluctuating around the critical support level of $0.47, exhibiting mild volatility and sideways movements. This price range has consistently supported XRP, indicating significant demand and increasing the chances of a medium-term bullish reversal.

By Shayan

The daily chart

A closer look at the daily chart shows that Ripple has consolidated within a sideways triangle pattern, indicating a balance between buying and selling pressure as well as uncertainty about the overall trend direction.

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

This area has been solidly supported since May 2023, indicating sustained demand and buying pressure. Consequently, a bullish reversal seems likely in the medium term, potentially leading to minor bullish moves towards the upper boundary of the triangle.

Conversely, a sudden break below this critical support could trigger significant long liquidation, causing a sharp decline in the short term.

The 4-hour chart

On the 4-hour chart, Ripple is showing a brief period of sideways movement and uncertain price action around the crucial $0.47 support area, creating a bearish continuation flag pattern.

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

If sellers manage to break this level, a significant and rapid downward move can be expected. However, the MACD indicator has recently turned green, suggesting a possible bullish recovery. This signal, combined with the prevailing demand near this critical support, suggests increased buying pressure and the likelihood of a bullish reversal in the medium term.