XRP Now on a Critical Level That Typically Leads to Strong Rebounds, Targeting $12

Market data indicates that XRP may now be sitting on a critical level that usually leads to strong rebounds.

According to Mikkybull, a prominent market watcher, this imminent rebound could push the XRP price to $12, marking a new all-time high for the asset. For perspective, this would represent a 769% increase from XRP’s current price.

Key Points.

• Market data indicates that XRP sits on a critical level that usually triggers strong rebounds.
• This level represents the lower trendline of a multi-year ascending parallel channel. 
• The last time XRP retested this level in November 2024, it rallied 580% in two months.
• When XRP dropped to this trendline in 2017, the rally that followed led to a 65,900% increase.
• XRP could target $12 this time if the recovery pattern plays out again.

XRP Slips Amid Market Pullback

Mikkybull shared his latest insights on the back of the recent market-wide pullback that has since dealt a blow to asset prices. Specifically, after reaching $80,000 earlier this month for the first time since January, BTC claimed $82,000 but has since pulled back to $79,700.

Altcoins followed suit, with XRP dropping from a high of $1.4567 to the current price around $1.38, effectively losing the $1.40 mark. This drop followed a 2.66% decline on Thursday, May 7, representing XRP’s largest intraday drop in nearly three weeks.

XRP Remains in a Critical Position 

Despite the recent decline, Mikkybull pointed out that XRP remains at a critical level that has often led to massive upside for the cryptocurrency. For context, this level represents the lower trendline of a multi-year ascending channel that has dictated XRP’s price action since inception. 

Notably, this channel features three trendlines: the lower, middle, and upper, all ascending in a parallel manner. The analyst calls the lower trendline a “critical level” because retesting it has preceded most of XRP’s explosive rallies. XRP has only dropped to this critical level twice in its history, with the latest retest marking the third one.

Historical Context

The first time XRP dropped toward the lower level was during the 2017 market cycle, when prices declined to a low of $0.0050 in February of that year. After retesting the lower ascending trendline, the XRP price spiked, eventually reaching $3.31 by January 2018. This marked a 65,900% rise within a year.

XRP dropped to retest the trendline again in November 2024, as the price declined toward $0.5. From here, XRP staged another rebound push, spurred by Donald Trump’s election victory. The ensuing rally pushed XRP’s price from $0.5 in November 2024 to $3.4 by January 2025, representing a 580% rise in three months.

XRP Targets $12

Considering the historical context, Mikkybull suggested that XRP could follow a similar upward push from the current position. Data from his chart shows that XRP has also been trading below a descending trendline within the channel since it dropped from the $3.6 all-time high in January, indicating the ongoing downtrend.

For XRP to replicate the previous uptrends, it must first break above this descending trendline. According to Mikkybull, XRP could target the $12 price level during the uptrend, which represents a midpoint value. For perspective, XRP would have to rise 769% to reach this level.

Complementing this outlook, market analyst Myles G also pointed out that XRP has continued to trade within a multi-month symmetrical triangle throughout this year. According to him, the token is “about to launch,” alluding to a potential breakout above the triangle. This may kickstart XRP’s uptrend from the lower ascending trendline identified by Mikkybull.

XRP is about to launch pic.twitter.com/ho5jSpCQiJ

— Myles G Investments (@MylesGinvest) May 7, 2026