{"id":554213,"date":"2023-10-05T11:07:35","date_gmt":"2023-10-05T11:07:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=554213"},"modified":"2024-06-11T08:00:36","modified_gmt":"2024-06-11T08:00:36","slug":"xrp-price-breakout-this-resistance-level-key","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ripple\/xrp-price-breakout-this-resistance-level-key\/","title":{"rendered":"XRP Price Breakout: This Resistance Level Holds The Key"},"content":{"rendered":"

Egrag Crypto, a renowned crypto analyst, delved deep into the XRP price trajectory in a recent tweet, highlighting the significance of the Volume Profile Visible Range (VPVR) in analyzing potential resistance levels and charting out future price possibilities.<\/p>\n

Using the VPVR metric, Egrag pointed<\/a> out the Value Area High (VAH) and Low-Value Area (VAL) which demarcate the highest and lowest prices within the 70% total value area, respectively. He noted, \u201cTo me, it’s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.\u201d<\/p>\n

XRP Price Faces Stiff Resistance<\/h2>\n

This breakout, as Egrag emphasized, positions the XRP price for a notable surge. However, for XRP to chart a stable long-term trajectory, \u201cEstablishing a strong foundation above VAH is crucial.\u201d He further highlighted the significance of XRP crossing the $1 threshold, describing it as both a “structural milestone” and a “psychological barrier.”<\/p>\n

\"XRP
XRP Weekly VPVR | Source: X @egragcrypto<\/figcaption><\/figure>\n

The VPVR, illustrated in Egrag’s chart, is an essential tool for traders. This histogram (on the right) captures volume traded at varying price points over a specific timeframe. It’s particularly adept at revealing the most actively traded price ranges, making it a robust tool for pinpointing support and resistance levels.<\/p>\n

Related Reading: XRP Derivatives Volume Soars by Over 200%, Could This Signal A Price Breakout?<\/a><\/div>\n

Egrag’s data suggests a VAL for XRP at around $0.16, a point of control (POC) at roughly $0.20226, and the pivotal VAH at $0.55. On the potential of the XRP price moving past the VAH, Egrag commented, \u201cclosing above the VAH $0.55 (in the weekly chart) will be an open high & FOMO will kick in and it could push XRP price to rocket-like levels.\u201d<\/p>\n

However, it’s crucial to consider that XRP needs to cultivate a fresh volume profile above $0.55. Presently, trading volume above this mark is scanty, which might necessitate an initial pause in the range between $0.55 and $1.<\/p>\n

Egrag’s second chart reinforces this VPVR analysis. If bulls can conquer the $0.55 resistance, Egrag projects an XRP rally towards the $1 mark, a level last touched in mid-June post the Ripple summary judgment<\/a> in the case against the SEC.<\/p>\n

Related Reading: Will XRP Price Defy A 50% Stock Market Crash? Analysts Share Predictions<\/a><\/div>\n

This previous brush with the $1 mark didn’t translate into a sustained surge, indicating the challenges of this threshold. Yet, with patience, Egrag envisions XRP marching towards the “next macro resistance” pegged<\/a> at a lofty $4.5.<\/p>\n

\"Next
Next macro resistance for XRP price | Source: X @egragcrypto<\/figcaption><\/figure>\n

4-Hour Chart XRP\/USD<\/h2>\n

On the shorter timeframes, specifically the 4-hour chart, XRP bulls have suffered a setback today. The XRP price fell below the 23.6% Fibonacci retracement level at $0.5273, which could threaten a fall toward the 200 EMA ($0.5168). This thesis could be invalidated if XRP recovers the 20 EMA at $0.5242.<\/p>\n

\"XRP
XRP price drops below 23.6% Fib, 1-day chart | Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image from Shutterstock, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Egrag Crypto, a renowned crypto analyst, delved deep into the XRP price trajectory in a recent tweet, highlighting the significance of the Volume Profile Visible Range (VPVR) in analyzing potential resistance levels and charting out future price possibilities. Using the VPVR metric, Egrag pointed out the Value Area High (VAH) and Low-Value Area (VAL) which demarcate the highest and lowest prices within the 70% total value area, respectively. He noted, \u201cTo me, it’s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.\u201d XRP Price Faces Stiff Resistance This breakout, as Egrag emphasized, positions the XRP price for a notable surge. However, for XRP to chart a stable long-term trajectory, \u201cEstablishing a strong foundation above VAH is crucial.\u201d He further highlighted the significance of XRP crossing the $1 threshold, describing it as both a “structural milestone” and a “psychological barrier.” The VPVR, illustrated in Egrag’s chart, is an essential tool for traders. This histogram (on the right) captures volume traded at varying price points over a specific timeframe. It’s particularly adept at revealing the most actively traded price ranges, making it a robust tool for pinpointing support and resistance levels. Related Reading: XRP Derivatives Volume Soars by Over 200%, Could This Signal A Price Breakout? Egrag’s data suggests a VAL for XRP at around $0.16, a point of control (POC) at roughly $0.20226, and the pivotal VAH at $0.55. On the potential of the XRP price moving past the VAH, Egrag commented, \u201cclosing above the VAH $0.55 (in the weekly chart) will be an open high & FOMO will kick in and it could push XRP price to rocket-like levels.\u201d However, it’s crucial to consider that XRP needs to cultivate a fresh volume profile above $0.55. Presently, trading volume above this mark is scanty, which might necessitate an initial pause in the range between $0.55 and $1. Egrag’s second chart reinforces this VPVR analysis. If bulls can conquer the $0.55 resistance, Egrag projects an XRP rally towards the $1 mark, a level last touched in mid-June post the Ripple summary judgment in the case against the SEC. Related Reading: Will XRP Price Defy A 50% Stock Market Crash? Analysts Share Predictions This previous brush with the $1 mark didn’t translate into a sustained surge, indicating the challenges of this threshold. Yet, with patience, Egrag envisions XRP marching towards the “next macro resistance” pegged at a lofty $4.5. 4-Hour Chart XRP\/USD On the shorter timeframes, specifically the 4-hour chart, XRP bulls have suffered a setback today. The XRP price fell below the 23.6% Fibonacci retracement level at $0.5273, which could threaten a fall toward the 200 EMA ($0.5168). This thesis could be invalidated if XRP recovers the 20 EMA at $0.5242. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":554216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,89579,4531,13172,10972],"class_list":["post-554213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-vpvr","tag-xrp","tag-xrp-price","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Price Breakout: This Resistance Level Holds The Key<\/title>\n<meta name=\"description\" content=\"The resistance at $0.55 is crucial for the XRP price, based on an analysis using Volume Profile Visible Range (VPVR).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Breakout: This Resistance Level Holds The Key","url":"http:\/\/ktsl888.com\/news\/ripple\/xrp-price-breakout-this-resistance-level-key\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/ripple\/xrp-price-breakout-this-resistance-level-key\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/shutterstock_2095394119.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/shutterstock_2095394119.jpg?fit=2800%2C1502"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ripple","vpvr","xrp","xrp price","xrpusd"],"dateCreated":"2023-10-05T11:07:35Z","datePublished":"2023-10-05T11:07:35Z","dateModified":"2024-06-11T08:00:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Breakout: This Resistance Level Holds The Key\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-price-breakout-this-resistance-level-key\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/ripple\\\/xrp-price-breakout-this-resistance-level-key\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_2095394119.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/shutterstock_2095394119.jpg?fit=2800%2C1502\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ripple\",\"vpvr\",\"xrp\",\"xrp price\",\"xrpusd\"],\"dateCreated\":\"2023-10-05T11:07:35Z\",\"datePublished\":\"2023-10-05T11:07:35Z\",\"dateModified\":\"2024-06-11T08:00:36Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/shutterstock_2095394119.jpg?fit=2800%2C1502","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/554213"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=554213"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/554213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/554216"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=554213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=554213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=554213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}