Can XRP price reach $4 in May? Analysts are watching these key levels

Quick Summary:

XRP (XRP) price displayed strength on May 7, rising 2% over the last 24 hours after news of possible US-China trade talks flipped investor sentiment. XRP price remains above $2.00 at the time of writing, as several analysts highlight the key support levels the asset should hold for a sustainable recovery to new all-time highs.

The 200-day SMA coincides with the election volume-weighted average price (VWAP) and the monthly rVWAP, as shown in the chart below.“This is an area that we want to see continue to get defended,” said trader and analyst Dom in a May 6 post on X, adding that failure to hold above this level could see XRP drop toward $1.90.“To see an immediate trend reversal, we need to see the price regain $2.12.”XRP/USD daily chart.

Whale accumulation supports bullish XRP viewCertain indicators show that XRP’s ongoing price rise may not be just a short-term reaction to the positive macroeconomic news. For instance, Santiment's Supply Distribution metric shows a steady rise in the supply held by entities with a 1 million –10 million token balance.

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Article Details

Author / Journalist: Cointelegraph by Nancy Lubale

Category: Crypto

Markets: United StatesChina

Topics: Traders Support Levels Rise Price News Highs All-time Supply Hold Drop

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 15:39:08 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 522 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 28472162

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