Crypto analyst Egrag has published a new short-term price prediction for XRP, suggesting a potential rise if the price can overcome a critical technical hurdle. Egrag’s analysis focuses on the 12-hour chart of the XRP/USD trading pair, where a breakout from a trend channel could trigger a short-term buy signal.According to Egrag, XRP has been moving within a descending channel (DC) known as “DC B,” characterized by lower highs and lower lows. The analyst highlights the significance of XRP’s interaction with this pattern. The price has touched the upper trend line (resistance) and the lower trend line (support) twice since the beginning of the chart pattern.Currently, XRP is about to retest the upper line of the trend channel for the third time. If it successfully breaks out of the downtrend channel, it would be a highly bullish sign. Egrag points out that a similar breakout occurred in the past, resulting in a price rally of over 50%. The analyst suggests that history could repeat itself, and XRP might experience a similar surge if it breaks out of the current descending channel.If the breakout succeeds, the next major resistance level identified by Egrag is the 0.5 Fibonacci retracement level at $0.7529. A breakout above this level could indicate a trend reversal and potentially drive the price towards the $1.30 to $1.50 range. Egrag emphasizes that surpassing the 0.5 Fibonacci level would signal upward momentum and instill confidence among traders.Egrag advises investors to closely monitor trading volume and overall market sentiment, as these factors will play a crucial role in XRP’s ability to reach and exceed the identified resistance levels. At the time of writing, XRP is trading at $0.63959.