XRP, bottoming out now and preparing for a major breakout?...Analyst: "Most are missing it"

▲ XRP

A strong argument has emerged that XRP is poised for another major breakout, ending months of sideways trading. Michael XBT, a renowned market veteran, emphasized that now is a critical period, precisely when most investors are not paying attention to XRP.

On May 7 (local time), according to the cryptocurrency specialized media TheCryptoBasic, Michael XBT stated via X (formerly Twitter) that “all eyes should be on XRP.” He said, “Most are not paying attention here. That's exactly what they want.” He then shared additional charts, claiming, “XRP has bottomed out,” and “a massive bull rally is imminent.”

The chart presented by Michael XBT shows XRP's price movement, which fell from a high of $3.6 to a low just above $1, then traded sideways around $1.3 for several weeks. He believes that since XRP has fallen approximately 70% from its peak, the worst period is already over. According to the chart, the key resistance zone is between $1.8 and $2, and a breakthrough of this zone could open the way for a retest of $3, a level it has been below for seven months.

Michael XBT also presented a strong bullish outlook for the altcoin market in general, not just XRP. He argued that many cryptocurrency assets are currently trading in a "bottoming zone" and are preparing for a parabolic rise. He pointed out that many investors are missing out on the altcoin expansion phase while focusing solely on Bitcoin (BTC). He added, "Everything has just changed," and stated that altcoins could enter a parabolic phase accompanied by massive bullish candles.

TheCryptoBasic reported that market optimism has recently intensified again, centered around Bitcoin's movements. Bitcoin approached $83,000 the previous day for the first time in four months, and Michael XBT believes Bitcoin could target above $100,000 again. He predicted that this movement could trigger a fear of missing out (FOMO) across the market, leading to capital shifting to altcoins, including XRP.

Michael XBT is a figure who has garnered market attention for his past major predictions regarding Bitcoin and XRP. In January 2023, he predicted Bitcoin's bottom around $15,000 and suggested a potential move to $100,000, after which Bitcoin surpassed six-digit prices for the first time in December 2024. He also predicted a breakthrough of a 7-year long-term pattern when XRP was trading around $0.50, and XRP surged to around $3.40 in January 2025, an increase of approximately 600%. TheCryptoBasic recently reported that some market observers are even making strong predictions that XRP could reach $8 to $12 by April 2027.

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