According to classical dynamics (Marion and Thornton, Central Force motion chapter), the eccentricity $\epsilon$ of the trajectory of two bodies in central motion is given by:
$\epsilon = \sqrt{1 + \frac{2El^2}{\mu k^2}}$
where:
- $E$ is the total mechanical energy,
- $l$ is the angular momentum,
- $\mu$ is the reduced mass,
- $k$ is a constant related to the gravitational force, $k = GMm$ for gravity.
If the projectile is launched at escape velocity, then the total mechanical energy $E$ is zero:
$E = 0$
Substituting $E = 0$ into the equation for eccentricity yields $\epsilon = 1$. An eccentricity of $\epsilon = 1$ corresponds to a parabolic trajectory, which is the boundary case between elliptical ($\epsilon < 1$) and hyperbolic ($\epsilon > 1$) trajectories.
If the speed $v$ is greater than the orbital velocity but less than the escape velocity, the total mechanical energy $E$ is negative (bound orbit), and the trajectory is elliptical:
$- \frac{\mu k^{2}}{2l^{2}} < E < 0$.
Oh, the polar equation for conic sections is discussed here in detail, along with the role of eccentricity.
For a complete mathematical derivation, more time is needed, and I might return to it later.