XRP Price Prediction: EGRAG CRYPTO Identifies XRP's Price Path and the Implications for Investors

Amid this development, EGRAG CRYPTO, a top analyst, has identified XRP's price path and the implications for investors.

Cryptocurrency prices have been exhibiting interesting trends, especially in the wake of the recent legal developments concerning Ripple.

EGRAG CRYPTO, a well-known analyst, has been closely following the price movements of XRP, offering valuable insights to traders.

In a recent X post, EGRAG CRYPTO highlighted the macro noise that could affect XRP’s price in the short term.

He noted that despite the bullish trend, short-term volatility might push the altcoin down from its current level. However, he assured traders that these price drops do not reflect the long-term trend of XRP.

Instead, he explained that they are simply distractions from the bigger picture, which could lead some traders to panic and sell. To those holding XRP, his message was clear: don’t panic if the price of XRP drops.

The analyst also provided traders with key XRP price levels to watch. According to him, they will need to see the price of XRP stay above $2.41 and $2.45 to sustain it and show that it has risen above its bearish trend.

Moreover, if XRP manages to climb to $2.96, then the asset will have made a clear breakout, signifying a long-term bullish trend for the price.

At the time of writing, the price of XRP had risen by 2.95% in the last 24 hours to reach $2.41. The coin had previously traded at $2.45 before experiencing volatility, causing it to drop to its current level.

Within the same period, XRP investors pulled back, leading to a decrease in trading volume by 42.76% to $3.93 billion.

As the legal uncertainty surrounding Ripple appears to be clearing up, there has been a shift in investor sentiment towards major cryptocurrencies.

Among these, XRP price has a great outlook, and traders are looking for any signals that could indicate the next move for the coin.

EGRAG CRYPTO, in another update, identified potential "break-out" levels for XRP. According to him, if the crypto climbs to that price level, then investors will likely see a significant upward movement.

In a post on X, he explained that the bullish trigger point for XRP has dropped to $2.50 due to market conditions and possible extended consolidation.

However, he believes that traders will have confidence in the asset only when XRP rises to $2.65.

A critical reason for this projection is that $2.65 has become a strong resistance level for the coin, from which it has faced rejections.

Therefore, if the crypto can break above this resistance and establish it as a new support zone, investors could consider it a powerful bullish signal.

Notably, this may fuel a sense of FOMO and might lead to a sustained upward price momentum.

In the last 24 hours, for instance, the Open Interest of XRP climbed by 3.62% as of writing. This signals that investors are exhibiting confidence in the coin’s future growth.

Moreover, investors committed $4.79 billion for 1.98 billion XRP locked in futures contracts. This large volume emphasizes the level of confidence in a possible rally.

CoinGlass data shows that traders on Bitget topped the list of exchanges with high Open Interest. Investors committed 547.35 million XRP worth $1.33 billion to the exchange.

Others included Binance, Gate.io, and Bybit, which had $800.11 million, $787.01 million, and $772.61 million, respectively.

Should the market sustain this level of adoption, it may fuel a breakout moving forward.