Market Veteran Says XRP Bottom Is In, Many People Not Paying Attention

Veteran analyst MichaelXBT has said XRP could be on the verge of another major breakout move after months of consolidation.

The veteran market watcher posted on X that “all eyes” should be on XRP, while arguing that most traders are currently overlooking the asset. “Most aren’t paying attention here. That’s exactly what they want,” he said.

He later followed up with a chart, claiming that the “XRP bottom is in” and that a “major bullish rally” is imminent.

Key Points

• XRP bottom is in, says Michael XBT, predicting a breakout as traders ignore accumulation.
• The chart shows XRP dropping from $3.6 to $1, with resistance at $1.8–$2 and a $3 target.
• He sees altcoins undervalued and expects a parabolic run as Bitcoin nears $83K and $100K.
• Past calls include BTC $15K bottom and XRP rally; analysts now eye $8–$12 XRP by 2027.

“XRP Bottom Is in,” Major Rally Next

Michael’s XRP chart highlights the coin’s drop from its $3.6 peak to lows just above $1, followed by weeks of sideways movement around the $1.3 price range. The analyst believes the worst is over, considering the coin has fallen approximately 70% from its peak.

His chart projects an attempt to break stubborn resistance between $1.8 and $2. He believes successfully overcoming this region would open the door for XRP to retest the $3 level after seven months of trading below it.

Considering XRP is trading at $1.4, this outlook suggests a potential 2x upside for today’s holders.

“Altcoins Are Ready to Explode”

Beyond XRP, Michael XBT also shared a bullish outlook for the altcoin market. He argues that many crypto assets are currently trading at “rock bottom,” making them set for a parabolic run.

Meanwhile, according to him, many investors are focusing on Bitcoin while ignoring what could become a major altcoin expansion phase.

He added that “everything just changed” and predicted that altcoins could soon enter a parabolic phase marked by massive “god candles.”

Altcoins are about to go parabolic.

God candles.

Watch.

— Crypto Michael (@MichaelXBT) May 6, 2026

Notably, this promising outlook comes as the broader market becomes gradually more bullish again. The move is being led by Bitcoin, which approached $83,000 yesterday after four months of trading below that level.

Remarkably, Michael believes Bitcoin is set to target above $100,000 again. This move could trigger renewed fear of missing out across the market and push capital into altcoins such as XRP.

Michael XBT’s Previous XRP and Bitcoin Calls

The analyst has gained attention in crypto circles for several major market calls in recent years.

Michael XBT previously predicted Bitcoin’s bottom near $15,000 in January 2023 while forecasting a future move toward $100,000. That played out as Bitcoin later crossed the six-figure mark for the first time in December 2024.

He also became known for an early XRP prediction made before the token’s explosive rally. When XRP traded around $0.50, the analyst forecasted a breakout from its long-standing seven-year pattern.

XRP later surged to around $3.40 by January 2025, representing gains of nearly 600%. Following that rally, XRP entered a prolonged consolidation phase and dropped more than 50% before eventually recovering above the $3 level again in July 2025.

Michael XBT now believes that the consolidation period since that peak is ending, setting the stage for another upward move.

Analysts Eye Higher XRP Targets

Beyond Michael, several other market watchers in recent weeks have expressed bullish sentiment about XRP. They believe the coin could set a new peak in the coming weeks. One analyst even issued a bold timeline for XRP to hit $8 to $12 as early as April 2027.