XRP analyst Mikybull Crypto believes its price could recover soon after spotting a double-bottom pattern and bullish divergence on its chart.
In a recent post on X, Mikybull Crypto wrote that XRP had formed a double bottom and bullish divergence, adding, “I don’t need to tell you what comes next,” suggesting that XRP could be preparing for a price increase.
These positive signals come as XRP price continues to decline. According to CoinMarketCap, XRP is trading at $1.29, down about 3% over the past 24 hours, 14% over the past month, and 30% since the start of 2026.
XRP Price Chart Signals Possible Recovery
In a chart shared by Mikybull, XRP was forming a double bottom, with two similar lows around the $1.20–$1.30 range. The pattern suggests that buyers are stepping in to support the price following its decline between August and October 2026.
Notably, the XRP/USDT daily chart shows a recovery in late August and early September, followed by a pullback and consolidation. This suggests that XRP is attempting to find support after its recent price swings.
Another key signal is bullish divergence on the chart’s lower indicator. The indicator’s lines suggest that downward momentum is weakening even as XRP struggles to move higher.
Mikybull Crypto has also drawn an upward-sloping purple line across recent price highs, marking a resistance area around $1.60 that XRP would need to break above to strengthen the bullish outlook.
At the time the chart was shared, XRP was trading near $1.3349. Holding above the $1.20–$1.30 support zone and breaking through resistance would strengthen the bullish case. A drop below the double bottom’s lows, on the other hand, would weaken the possibility of a rebound.
Whales Hold 68.5% of Supply
Mikybull has also pointed to large XRP holders as another reason to watch the cryptocurrency closely. The analyst shared Santiment data showing that wallets holding at least 10 million XRP control 68.5% of the circulating supply. He said this was the highest level since November 2022.
He views this as a positive sign that bulls are preparing for a surge. Meanwhile, when he shared the data, XRP was trading at around $1.33. It has since fallen to approximately $1.29.
Wallets with at least 10 million XRP now hold 68.5 percent of the circulating supply.
That is the highest concentration since November 2022 per Santiment.$XRP is trading near 1.33 while the big holders keep stacking.
— MikybullCrypto (@MikybullCrypto) October 28, 2026
Despite the price decline, Mikybull Crypto remains optimistic. Two days earlier, he told his followers that XRP’s “biggest parabolic rally” was “loading.” He also shared a chart showing a possible rise to $8 and advised investors to “accumulate and wait.”
In sum, the analyst remains bullish on XRP, but it is still unclear when a recovery might occur or how high the price could go.