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.