XRP's price recently experienced an 18% drop from $0.64 to $0.52. However, the focus is now on recovery, with long-term investors potentially playing a key role.
The Market Value to Realized Value (MVRV) Long/Short Difference indicator shows positive sentiment among long-term holders, indicating potential stability for XRP's recovery.
Technical indicators, such as the Relative Strength Index (RSI), are also showing signs of a potential price rebound, suggesting diminishing bearish momentum.
XRP is trading at $0.53 and has bounced off key support levels. Breaking through $0.55 is crucial for further price gains, with $0.59 as a possible target. However, failure to breach this resistance could result in price consolidation.
