XRP's price movement remains uncertain as it continues to trade within a defined range. Egrag Crypto, a cryptocurrency analyst, recently shared his thoughts on the matter, stating that there is no confirmed macro bottom yet for XRP.
According to Egrag Crypto, a monthly close above $2 is necessary to confirm a trend shift in XRP's price movement. This would indicate that the current range-bound trading has come to an end and a new trend is emerging. Until then, the analyst believes that relief rallies in XRP are mere noise until proven otherwise.
The long-term targets for XRP, set by Egrag Crypto, remain at $15, $27, and $50. These targets have been established based on a rising channel pattern observed in the price chart of XRP/USD.