Top Analyst Shares Big Take on XRP Price Crossroads, Key Targets To Watch

XRP price is witnessing a bullish rally with price charting higher highs in the crypto market, slowly but with investor conviction.

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

Analyst Assures of Long-Term Trend

In a post on X, EGRAG CRYPTO used charts to show that short-term volatility could temporarily affect the price despite the bullish trend.

He referred to this as “Macro noise” on XRPs price trajectory that could push it down from its current level.

Image Source: EGRAG Crypto on X

He emphasized that such price drops do not reflect the altcoins long-term trend. The analyst insists these are just distractions from the bigger picture that could cause some to panic and sell.

EGRAG CRYPTOs message to XRP holders is to avoid panicking if the price of XRP declines.

He provided market participants with key XRP price levels to watch. According to him, XRP needs to stay above $2.41 and $2.45 and sustain it to show that it has risen above its bearish trend.

The analyst states that if XRP climbs to $2.96, the asset will have made a clear breakout, signaling a long-term bullish trend for the price.

As of this writing, the XRP price has risen by 2.95% to $2.41 in the last 24 hours. The coin had previously traded at $2.45 before experiencing volatility, which caused it to drop to its current level.

Within the same period, XRP investors pulled back, causing trading volume to plummet by 42.76% to $3.93 billion.

XRP Price Thresholds to Watch: $2.41, $2.50, and $2.96

Despite this volatility, XRP price has a great outlook. EGRAG CRYPTO, in another update, identified potential “break-out” levels for XRP.

If XRP climbs to that price level in the crypto market, investors will likely see a significant upward movement.

Image Source: EGRAG Crypto on X

EGRAG CRYPTO pegged XRP‘s new breakout point at $2.50. He explained that the asset’s bullish trigger point has dropped to $2.50 due to market conditions and possible extended consolidation.

However, he believes that market participants 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 XRP, from which the coin has faced rejections.

Therefore, if XRP price 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.

XRP Open Interest Surge Signals Growing Investor Conviction

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

Notably, 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.