XRP, like the rest of the crypto market, is experiencing a downturn. However, Egrag, a prominent crypto analyst, remains bullish on XRP in the long term and believes that the potential for a bull run is still intact.

XRP is currently caught in a bearish storm and has slipped into a descending channel pattern, which Egrag predicts could lead to a drop to the January lows of $0.31 or a soar to a $0.55 high. Despite the current bearish trend, Egrag emphasizes that XRP's potential for a long-term rally remains valid.