XRP’s price declined to $1.31 on March 31, dropping over 7% for the week despite a 12% rise in daily trading volume. Analyst Egrag Crypto states the market bottom remains unconfirmed and warns many investors are acting as “exit liquidity.” While the token remains range-bound, the analyst maintains long-term price targets between $15 and $50, even as futures volume and open interest show declines.
XRP faced continued market struggles on Tuesday, March 31, recording a daily price decline. The asset’s trading volume increased to $1.9 billion, yet its weekly performance showed a significant decrease.
Analyst Egrag Crypto highlighted a concerning dynamic in the market. He stated that an investor is either “early” or “exit liquidity,” criticizing a focus on hype over analysis.
The analyst noted that XRP’s macro bottom is not yet confirmed, making recent rallies temporary. A sustained move above $2 is required for a potential trend shift in the uncertain market.
He currently focuses on day trading with a small percentage of his holdings. The broader cryptocurrency remains stuck in a range market according to his assessment.
Some retail investors who sold at higher prices are now hesitant to buy at lower levels. The analyst advocates for a strategic, non-reactive approach based on market structure analysis.
Egrag Crypto has already sold into strength at $3 and is prepared to add positions if prices fall further. His long-term price targets for XRP remain between $15 and $50.
Market data from CoinGlass shows futures volume declined to $2.89 billion. Open interest also decreased to $2.45 billion, with a negative funding rate.
