{"id":568063,"date":"2024-01-04T17:00:46","date_gmt":"2024-01-04T17:00:46","guid":{"rendered":"https:\/\/uniquehot.com\/?p=568063"},"modified":"2024-06-11T10:09:38","modified_gmt":"2024-06-11T10:09:38","slug":"xrp-price-gears-upswing-soon-crypto-analyst","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-price-gears-upswing-soon-crypto-analyst\/","title":{"rendered":"XRP Price Gears Up For ‘Significant Upswing Soon’: Crypto Analyst"},"content":{"rendered":"

The XRP price fell sharply yesterday as a result of Bitcoin’s flash crash<\/a>, as did the entire altcoin market. The price briefly fell by 21% yesterday, plummeting from around $0.64 to $0.505. Although the price was still able to recover above the 200-day exponential moving average (EMA) in the 1-day chart at $0.5712 by daily close, it is still down around 10% compared to yesterday’s high.<\/p>\n

Nevertheless, crypto analyst Egrag Crypto remains<\/a> bullish and was able to take some good out of yesterday’s crash. In his latest analysis of the 1-day XRP\/USD chart, Egrag highlighted that the XRP price is in a preparation phase for an upswing. Egrag’s chart presented on X provides insights into the XRP’s current position and potential future movements.<\/p>\n

\"XRP
XRP price analysis | Source: X @egragcrypto<\/figcaption><\/figure>\n

XRP Price Gearing Up For An Upswing Soon?<\/h2>\n

Egrag’s analysis starts by revisiting the August scenario where XRP touched the lower boundary of its ascending channel amidst a massive liquidation in the crypto space amounting to $1 billion. Fast-forwarding to the present, XRP is once again at this critical juncture with a similar scale of liquidation occurring yesterday.<\/p>\n

Related Reading: XRP Price Projection: Analyst Envisions Potential 50X Surge To $14, Here\u2019s Why<\/a><\/div>\n

\u201cNow, after five months, it’s revisiting that zone with another aggressive $1 billion liquidation,\u201d Egrag notes. Remarkably, the XRP bulls defended once again the lower trendline of the ascending channel which was established in May last year.<\/p>\n

The XRP bulls<\/a>‘ steadfast buying represents a strong bullish signal, particularly as they have maintained the price above the so-called “Val Hell Line” at approximately $0.55. Egrag identified this line as the most crucial support line.<\/p>\n

A fall below this level with the daily candle close could have signaled the beginning of a downward trend. But despite the market’s upheaval, Egrag highlights the bullish sentiment by noting, “Surprisingly, the XRP bulls have staunchly defended this channel, buying into the dip as if there’s no stopping them.”<\/p>\n

Related Reading: Researcher Decodes Link Between XRP Price And Ripple\u2019s Buybacks<\/a><\/div>\n

Moreover, Egrag emphasized that another retest was pretty “standard market behavior” within the broader context. He views this retest as a potential consolidation phase, potentially building up to an upswing. “The bulls managed to triumph over the Val Hell Line, avoiding a daily candle close below it,” Egrag remarked.<\/p>\n

Price Levels To Watch<\/h2>\n

Egrag’s chart also features Fibonacci retracement levels, particularly highlighting the 0.702 level at about $1.1096 and the 0.5 level at approximately $0.7529. Traders traditionally use these levels to gauge potential support and resistance zones, and Egrag’s chart indicates that these levels are important to monitor for the XRP price action<\/a>.<\/p>\n

The 0.702 Fib level could remarkably coincide with a breakout from the trend channel if the price reaches the level between April and May. In conclusion,\u00a0the crypto analyst confidently states, “Personally, I’m increasingly confident that we’re gearing up for a significant upswing very soon. #XRPArmy, keeping an eye on the broader channel perspective keeps me calm and steady, cool and ready.\u201d<\/p>\n

At press time, XRP traded at $0.5791.<\/p>\n

\"XRP
XRP closed above the 200-day EMA yesterday, 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":"

The XRP price fell sharply yesterday as a result of Bitcoin’s flash crash, as did the entire altcoin market. The price briefly fell by 21% yesterday, plummeting from around $0.64 to $0.505. Although the price was still able to recover above the 200-day exponential moving average (EMA) in the 1-day chart at $0.5712 by daily close, it is still down around 10% compared to yesterday’s high. Nevertheless, crypto analyst Egrag Crypto remains bullish and was able to take some good out of yesterday’s crash. In his latest analysis of the 1-day XRP\/USD chart, Egrag highlighted that the XRP price is in a preparation phase for an upswing. Egrag’s chart presented on X provides insights into the XRP’s current position and potential future movements. XRP Price Gearing Up For An Upswing Soon? Egrag’s analysis starts by revisiting the August scenario where XRP touched the lower boundary of its ascending channel amidst a massive liquidation in the crypto space amounting to $1 billion. Fast-forwarding to the present, XRP is once again at this critical juncture with a similar scale of liquidation occurring yesterday. Related Reading: XRP Price Projection: Analyst Envisions Potential 50X Surge To $14, Here\u2019s Why \u201cNow, after five months, it’s revisiting that zone with another aggressive $1 billion liquidation,\u201d Egrag notes. Remarkably, the XRP bulls defended once again the lower trendline of the ascending channel which was established in May last year. The XRP bulls‘ steadfast buying represents a strong bullish signal, particularly as they have maintained the price above the so-called “Val Hell Line” at approximately $0.55. Egrag identified this line as the most crucial support line. A fall below this level with the daily candle close could have signaled the beginning of a downward trend. But despite the market’s upheaval, Egrag highlights the bullish sentiment by noting, “Surprisingly, the XRP bulls have staunchly defended this channel, buying into the dip as if there’s no stopping them.” Related Reading: Researcher Decodes Link Between XRP Price And Ripple\u2019s Buybacks Moreover, Egrag emphasized that another retest was pretty “standard market behavior” within the broader context. He views this retest as a potential consolidation phase, potentially building up to an upswing. “The bulls managed to triumph over the Val Hell Line, avoiding a daily candle close below it,” Egrag remarked. Price Levels To Watch Egrag’s chart also features Fibonacci retracement levels, particularly highlighting the 0.702 level at about $1.1096 and the 0.5 level at approximately $0.7529. Traders traditionally use these levels to gauge potential support and resistance zones, and Egrag’s chart indicates that these levels are important to monitor for the XRP price action. The 0.702 Fib level could remarkably coincide with a breakout from the trend channel if the price reaches the level between April and May. In conclusion,\u00a0the crypto analyst confidently states, “Personally, I’m increasingly confident that we’re gearing up for a significant upswing very soon. #XRPArmy, keeping an eye on the broader channel perspective keeps me calm and steady, cool and ready.\u201d At press time, XRP traded at $0.5791. Featured image from Shutterstock, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":0,"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":[4531,13172,91056,16289,10972],"class_list":["post-568063","post","type-post","status-publish","format-standard","hentry","category-ripple","tag-xrp","tag-xrp-price","tag-xrp-price-breakout","tag-xrp-price-prediction","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Price Gears Up For 'Significant Upswing Soon': Crypto Analyst<\/title>\n<meta name=\"description\" content=\"Crypto analyst Egrag Crypto remains bullish on XRP and is able to take some good out of yesterday's price crash.\" \/>\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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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:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Price Gears Up For ‘Significant Upswing Soon’: Crypto Analyst","url":"http:\/\/uniquehot.com\/news\/ripple\/xrp-price-gears-upswing-soon-crypto-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/xrp-price-gears-upswing-soon-crypto-analyst\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Ripple","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["xrp","xrp price","xrp price breakout","xrp price prediction","xrpusd"],"dateCreated":"2024-01-04T17:00:46Z","datePublished":"2024-01-04T17:00:46Z","dateModified":"2024-06-11T10:09:38Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Price Gears Up For ‘Significant Upswing Soon’: Crypto Analyst\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-price-gears-upswing-soon-crypto-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-price-gears-upswing-soon-crypto-analyst\\\/\"},\"thumbnailUrl\":\"\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"xrp\",\"xrp price\",\"xrp price breakout\",\"xrp price prediction\",\"xrpusd\"],\"dateCreated\":\"2024-01-04T17:00:46Z\",\"datePublished\":\"2024-01-04T17:00:46Z\",\"dateModified\":\"2024-06-11T10:09:38Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568063"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=568063"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/568063\/revisions"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=568063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=568063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=568063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}