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\u2019s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.\u201d<\/p>\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 \u201cstructural milestone\u201d and a \u201cpsychological barrier.\u201d<\/p>\n The VPVR, illustrated in Egrag\u2019s chart, is an essential tool for traders. This histogram (on the right) captures volume traded at varying price points over a specific timeframe. It\u2019s particularly adept at revealing the most actively traded price ranges, making it a robust tool for pinpointing support and resistance levels.<\/p>\n Egrag\u2019s 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\u2019s 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\u2019s 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 This previous brush with the $1 mark didn\u2019t translate into a sustained surge, indicating the challenges of this threshold. Yet, with patience, Egrag envisions XRP marching towards the \u201cnext macro resistance\u201d pegged<\/a> at a lofty $4.5.<\/p>\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>","protected":false},"excerpt":{"rendered":" <\/p>\n 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\u2019s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.\u201d<\/p>\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 \u201cstructural milestone\u201d and a \u201cpsychological barrier.\u201d<\/p>\n The VPVR, illustrated in Egrag\u2019s chart, is an essential tool for traders. This histogram (on the right) captures volume traded at varying price points over a specific timeframe. It\u2019s particularly adept at revealing the most actively traded price ranges, making it a robust tool for pinpointing support and resistance levels.<\/p>\n Egrag\u2019s 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\u2019s 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\u2019s 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 This previous brush with the $1 mark didn\u2019t translate into a sustained surge, indicating the challenges of this threshold. Yet, with patience, Egrag envisions XRP marching towards the \u201cnext macro resistance\u201d pegged<\/a> at a lofty $4.5.<\/p>\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 <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-30583","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30583","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=30583"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30583\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30583"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}XRP Price Faces Stiff Resistance<\/h2>\n
4-Hour Chart XRP\/USD<\/h2>\n
XRP Price Faces Stiff Resistance<\/h2>\n
4-Hour Chart XRP\/USD<\/h2>\n