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.