XRP Analyst Cites Data Manipulation, Sets $1.40 Baseline

Crypto analyst EGRAG CRYPTO has identified significant price distortions for XRP across major trading platforms including Binance, Bitstamp, Poloniex, and Coinbase, particularly during recent volatile market movements. The analyst noted visible differences in pricing data that have created conflicting signals for technical analysis, undermining the reliability of traditional chart interpretation methods. This discovery comes as XRP trades at $2.43, down 7% over 24 hours and 18% over the past week according to CoinGecko data.

In response to these inconsistencies, EGRAG CRYPTO announced a fundamental shift in analytical approach, stating they will now rely exclusively on a consolidated ‘Crypto Data Set’ that averages prices from top exchanges. This move aims to provide a more stable and consistent view of XRP’s price action, eliminating the noise created by exchange-specific discrepancies. The analyst explicitly stated they will no longer include chart data from the previously mentioned platforms until further notice, marking a significant departure from conventional crypto analysis practices.

EGRAG CRYPTO has established $1.40 as the new baseline for long-term XRP analysis, citing this level as the true low point reached during recent market manipulation. ‘Based on the recent market manipulation, the low for XRP was $1.40, and that will be my baseline moving forward,’ the analyst stated. This represents a substantial psychological shift from current trading levels and suggests the analyst believes recent price action may not reflect true market fundamentals.

Technical analysis reveals a descending triangle pattern that, according to traditional interpretation, should have driven XRP down to $2.14. However, the price has defied this expectation, currently holding between $2.40 and $2.60. The analyst identified $2.65 as a critical resistance level that must be broken for bullish momentum to resume. More concerningly, EGRAG CRYPTO stated they would ‘be genuinely concerned about the integrity of this cycle if we start closing 3-day candles below $2.00 and $1.91,’ indicating these levels serve as crucial support thresholds for maintaining a bullish outlook.

Parallel to the price decline and data concerns, XRP futures open interest has experienced a dramatic collapse, dropping to $4.15 billion from over $9 billion earlier in the month according to Coinglass data. This represents a decline of approximately 54% in open positions, indicating substantial deleveraging and position closures among traders. The synchronized movement between price decline and open interest reduction suggests coordinated exit behavior rather than isolated position adjustments.

The correlation between XRP slipping below $2.50 and the simultaneous drop in open interest points to either voluntary position closures or forced liquidations during the downturn. This development signals reduced speculative activity in the short term and potentially reflects declining trader confidence amid the pricing inconsistencies identified by EGRAG CRYPTO. The cooling futures market, combined with the analytical concerns about data reliability, creates a challenging environment for XRP price recovery in the near term.