XRP's $6.9 dream is over...Trader who predicted 700% rally declares bullish scenario ended

▲ XRP/AI generated image

A renowned trader who predicted XRP's 700% rally has retracted his previous bullish thesis, stating that the $6.9 price target is no longer valid.

Crypto media outlet U.Today reported on May 12 (local time) that famous trader DonAlt officially declared his previous investment thesis for XRP has ended. DonAlt is known for having predicted XRP's rise from around $0.50 to an 8-year high of $3.65 by late 2024, capturing a profit zone of approximately 700%.

DonAlt had previously stated that XRP could break its all-time high and rise to $6.9. However, he recently assessed that the core drivers that led to that surge have already been exhausted. He had pointed to the so-called 'crime cycle' as the background for XRP's exceptional rise from 2024 to 2025, but now states that this thesis has fully played out.

The 'crime cycle' DonAlt referred to is a concept encompassing collusion, lobbying, political favors, and insider profit-taking observed in the cryptocurrency market during specific periods. He recently explained via X (formerly Twitter) that while he made successful trades by betting on XRP's rise from $0.50 to the late $2 range, it is now difficult to apply the same logic. DonAlt added that he currently views XRP as an asset not significantly different from other cryptocurrencies.

According to U.Today, as of May 12, 2026, XRP is hovering around $1.46. While XRP supporters still hope for a re-break of its all-time high and a potential surge, the trader who accurately predicted the previous rally has shifted to a wait-and-see approach. An approach based on a parabolic rise towards $6.9, as previously expected, has become more burdensome in the current market environment.

However, funds continue to flow into XRP-related ETFs. Approximately $141 million has flowed into XRP ETF products in the US over about one and a half months since early April. The inflow rate remains stable rather than explosive, and the market is watching political decisions closely ahead of the US crypto market structure bill hearing scheduled for May 14 in the US Senate. XRP's future direction is likely to be more influenced by regulatory adoption and institutional integration than by past speculative narratives.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*