It’s Time to Pay Attention to XRP Again as Next Major Price Breakout is Due Very Soon: Veteran Trader

Widely followed trader Michael XBT says $XRP price deserves more attention. He posted on X that the coin is approaching another major price move after more than two months of consolidation.

Michael XBT urged traders to pay attention to $XRP again, citing its extended consolidation following an earlier rally. The trader added that $XRP has been consolidating since the 70% price rally in August, which occurred shortly after the coin dipped to $0.98.

The analyst claimed to have accurately predicted the drop below $1 and the subsequent price rebound. According to Michael XBT, the next major breakout could arrive soon, although he did not specify a price target or provide a precise timeline.

Michael XBT Revisits His Earlier $XRP Call

Michael’s latest post referenced an earlier post from July in which he revealed that he was accumulating $XRP.

“I’ve been accumulating $XRP here. You’re about to see why,” he wrote at the time.

Interestingly, $XRP was trading at around $1.05 before falling to $0.97 by mid-August. Four days later, it surged 72% to $1.70 before losing momentum.

By revisiting that post, the trader highlighted his earlier bullish stance and linked it to $XRP’s subsequent price movement. His latest comments suggest that he believes the token could be preparing for another significant move after spending weeks trading within a relatively narrow range.

$XRP Price Remains Down Over the Past Month

$XRP price was trading at $1.32 at the time of writing, according to CoinMarketCap data. The token was up 2.25% over the previous 24 hours but remained down 11% over the past month.

The daily gain suggests a short-term recovery, but the monthly decline shows that $XRP has yet to recover its recent losses.

Michael XBT’s comments align with the views of some traders in the $XRP community.

Buy Signal for $XRP Price

Yesterday, Ali Martinez tweeted that $XRP had flashed a potential buy signal. The TD Sequential indicator has previously flashed buy signals before the coin gained 18%, 24%, and 31%.

For this bullish prediction to play out, Martinez identified $1.25 as a key support level. If $XRP holds above this level, its price could recover to $1.40. However, a break under $1.25 could trigger a drop to $0.98, especially if large holders continue selling.

Death Cross Raises Risk of Drop Below $1

On the other hand, analyst ChartNerd argues that $XRP could fall below $1 after forming a bearish death cross. This signal occurs when the 20-day EMA moves under the 50-day EMA.

ChartNerd noted that similar signals in May and August preceded a 30% price decline, with $XRP falling from $1.40 to below $1 before rebounding.

$XRP is currently trading around $1.30, down 11% over the past month. A recovery above the moving averages could support a rebound, while continued weakness may push the price below $1.