Category: Cryptocurrency News

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, “To me, it’s crystal clear: XRP has broken out of a multi-month trend line and has successfully retested the breakout.” 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, “Establishing a strong foundation above VAH is crucial.” 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, “closing 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.” 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

By "system", I am mainly referring to modern monetary theory, fiat currency, debt and government deficits. I saw a post here earlier today about the increase in the U.S. debt and while it was factual, there was a lot of misunderstanding and misinformation around the comments section. And since I recently wrote a piece about…
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As AI capabilities continue to evolve, proving the authenticity of real-world images, video and content could hinge on blockchain solutions.

With ethereum being the first smart contract blockchain I was wondering if there is a feasible way to create a type of "dead man's" switch. A dead man's switch is designed to activate or deactivate when the operator becomes incapacitated. The half baked idea I'm having is if a journalist or inventor for example is…
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Hello everyone ! I am performing a study on Centralised Exchanges about how and why people use them. If. you could please fill out a form with your opinions I would really appreciate it. I will be posting my findings in an article that I will share with you under this post once complete. Please…
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XRP finds itself at a critical juncture as it grapples with a formidable resistance level at $0.54. The recent surge in XRP’s price has propelled it into this crucial resistance range, where it has made three unsuccessful attempts to breach in the past seven days. This repeated testing of the $0.54 mark underscores its significance as a formidable barrier for XRP. Despite these challenges, a price analysis suggests that XRP retains the potential to attract strong demand if certain conditions align in its favor. Over the last three weeks, there has been noticeable accumulation of XRP, indicating growing interest from investors.  Related Reading: Is XRP Growth Real Or Just Smoke And Mirrors? Here’s What Liquidation Data Shows This accumulation coincided with a previous rally that was sparked by a demand surge following a legal victory for Ripple. However, it remains to be seen whether XRP can find the catalyst it needs to break through its current resistance zone. Ripple’s Singapore License Sparks Hope For XRP Ripple, the company behind XRP, recently made a significant announcement. Its Singapore subsidiary, Ripple Markets APAC Pte Ltd, has successfully secured a Major Payments Institution (MPI) license from the Monetary Authority of Singapore (MAS). With this coveted license in hand, Ripple is now authorized to offer regulated digital payment token services in Singapore.  This development is noteworthy as more than 90% of Ripple’s business is conducted outside of the United States, with the Asia Pacific region experiencing rapid growth in demand for its crypto-enabled payment solutions. Ripple has made it clear that it intends to prioritize the Asia Pacific region for the adoption of its offerings. XRP market cap at nearly $28 billion today. Chart: TradingView.com However, despite these positive developments and promising signs of accumulation, XRP’s price has struggled to break free from its current resistance line. At the time of writing, XRP is trading at $0.530038, reflecting a 0.9% decline over the past 24 hours. On a more positive note, it has recorded a 6.0% rise over the past week.  While the cryptocurrency has managed to surpass the $0.52 resistance level and is currently trading above the 50-day Exponential Moving Average (EMA), caution is warranted. XRP seven-day price action. Source: Coingecko Analyzing XRP’s Current Price And Outlook Market conditions can shift rapidly, and XRP’s future performance hinges on various factors. Traders and investors should closely monitor trading volumes and other technical indicators to gain insight into whether XRP can ultimately overcome the stubborn resistance at $0.54. Related Reading: Shiba Inu Investors Beware: 425 Billion Tokens On The Move – Is It A Sell-Out? Despite recent developments, including Ripple’s licensing success in Singapore, the cryptocurrency has yet to secure a decisive breakout. As the crypto market continues to evolve, XRP enthusiasts and investors eagerly await the catalyst that could propel it beyond this critical resistance point. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock

The amount of spam and scams in this subreddit has become an issue that requires a solution. To address this, I'd like to suggest a potential solution: My idea involves imposing a ban on all links in posts by default and only allowing links on request (whole domain maybe?). We could utilize a bot to…
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While the exploiter initially held 175,496 ETH ($294 million), the current balance in their portfolio has come down to $196.014 million after a series of transfers.