XRP’s prolonged price lull may be testing investors’ patience, but one veteran trader believes the cryptocurrency is quietly setting the stage for something much bigger. Michael XBT, who previously called XRP’s slide below the psychological $1 threshold before its sharp recovery, is once again turning bullish. With the token stuck in consolidation for weeks, he suspects the market could be overlooking the early signs of another explosive breakout.
XRP’s Prolonged Consolidation Could Be Setting the Stage for a Major Price Shift
Crypto analyst Michael XBT is urging traders to turn their attention back to XRP, suggesting that the token’s extended period of sideways trading could soon give way to another significant price move.
In an October 28 post on X, the analyst noted that XRP has been consolidating for more than two months following a rally of approximately 70% that began after the cryptocurrency dipped to around $1. He claims to have anticipated the bottom and the subsequent rebound, and now believes another major breakout could be approaching.
“It’s time to pay attention to XRP again,” Michael XBT noted. “The next major breakout is due very soon.”
The pundit’s latest comments also revive an earlier bullish stance. On July 1, he disclosed that he was accumulating XRP, telling his followers, “You’re about to see why.” The token subsequently climbed from below $1 to around $1.70 in August before losing momentum. By revisiting that earlier post, the analyst is reinforcing his conviction that XRP may have more upside ahead after weeks of lackluster price action.
Meanwhile, XRP was trading at $1.33 at the time of writing, according to CoinGecko data, up 0.6% over the past 24 hours but still down approximately 11.9% over the last month. The modest daily rebound offers little evidence of a broader recovery so far, leaving the token well below its recent levels as traders wait for a stronger directional move.
The contrast between XRP’s short-term uptick and its monthly losses highlights the challenge facing bulls. While Michael XBT expects the prolonged consolidation to precede another major breakout, the price action has yet to confirm that scenario. A sustained recovery would be needed to strengthen the case for a fresh meteoric surge.
On the fundamental front, Ripple has secured a major regulatory milestone after receiving final approval from the Office of the Comptroller of the Currency (OCC) to establish its own national trust bank. The development could strengthen the company’s institutional custody capabilities and expand its role within the traditional financial system. While the approval does not guarantee an immediate boost to XRP’s price, it adds to Ripple’s efforts to deepen its presence in regulated financial services and attract institutional participation.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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