Traffic crash is a complex phenomenon that involves coupling interdependency among multiple influencing factors. Considering that interdependency is critical for predicting crash risk accurately and contributes to revealing the underlying mechanism of crash occurrence as well, the present study attempts to build a Real-Time Crash Prediction Model (RTCPM) for urban elevated expressway accounting for the dynamicity and coupling interdependency among traffic flow characteristics before crash occurrence and identify the most probable risk propagation path and the most significant contributors to crash risk. In this study, Dynamic Bayesian Network (DBN) was the framework of the RTCPM. Random Forest (RF) method was employed to identify the most important variables, which were used to build DBN-based RTCPMs. The PC algorithm combined with expert experience was further applied to investigate the coupling interdependency among traffic flow characteristics in the DBN model. A comparative analysis among the improved DBN-based RTCPM considering the interdependency, the original DBN-based RTCPM without considering the interdependency, and Multilayer Perceptron (MLP) was conducted. Besides, the sensitivity and strength of influences analyses were utilized to identify the most probable risk propagation path and the most significant contributors to crash risk. The results showed that the improved DBN-based RTCPM had better prediction performance than the original DBN-based RTCPM and the MLP based RTCPM. The most probable risk influencing path was identified as follows: speed on current segment (V) (time slice 2)⟶V (time slice 1)⟶speed on upstream segment (U_V) (time slice 1)⟶Traffic Performance Index (TPI) (time slice 1)⟶crash risk on current segment. The most sensitive contributor to crash risk in this path was V (time slice 2), followed by TPI (time slice 1), V (time slice 1), and U_V (time slice 1). These results indicate that the improved DBN-based RTCPM has the potential to predict crashes in real time for urban elevated expressway. Besides, it contributes to revealing the underlying mechanism of crash and formulating the real-time risk control measures.