XRP News Today: XRP Surges 580% After Michael XBT's Bullish Call

Michael XBT, a well-known market analyst specializing in Bitcoin, has released a new forecast for XRP’s price trajectory. He highlights that his previous prediction, made in mid-2024, yielded substantial returns, turning ordinary investors into millionaires.

In July 2024, Michael identified a bullish technical chart signal, specifically a breakout from a seven-year bull pennant formation, which he described as the most compelling setup he had encountered in the cryptocurrency markets. At that time, XRP was priced around $0.50 and had underperformed despite positive developments involving Ripple’s corporate deals. Many market participants dismissed the token, but Michael remained steadfast in his conviction.

That conviction paid off. XRP surpassed the $0.50 resistance level by November 2024 and surged sharply to reach $3.40 in January 2025, representing a nearly 580% increase. This move marked a return to price levels not seen since 2018. The prediction earned respect from some previously critical voices, many of whom acknowledged the accuracy of Michael’s original call.

Following the parabolic uptrend, XRP entered a consolidation phase that lasted approximately seven months. This period included a decline of over 50%, bringing the price down to around $1.60. Since that dip, XRP has mostly remained above $2. Michael interprets this behavior as a healthy correction, suggesting it represents a period of accumulation and stability, setting the stage for the next upward move. According to him, XRP is now exiting this consolidation and preparing for a new rally.

In his latest commentary, Michael shifts attention to Bitcoin. He notes that Bitcoin is nearing a breakout above an eight-year descending trendline. He believes that when Bitcoin finally surges past that resistance, its momentum will ripple through the crypto market and significantly benefit altcoins like XRP. Michael cautions that this upcoming rally could be supported by what he terms a “generational wealth” event, which would draw wider investor interest. Although he does not specify XRP’s exact target, he suggests the movement could prove exceptionally rewarding for long-term holders.

Michael acknowledges possible resistance to this forecast but remains confident in its potential. He points to analyst projections that XRP might reach between $5 and $30 during this cycle. Even at the lower bound, investors holding 500 XRP could see significant gains. For example, if XRP climbs to $5, a holding of 500 tokens, currently worth approximately $1,000, could increase to $2,500, representing a 150% gain. Some in the community believe XRP could reach $100; however, Michael regards this as overly optimistic for the present cycle. Still, he notes that even speculative targets in this range would have a lasting impact on smaller positions.

Michael XBT reiterates that his mid-2024 XRP call delivered transformative results and that he is prepared to repeat that level of accuracy. With XRP emerging from its consolidation and Bitcoin potentially breaking a significant resistance, he believes market conditions are aligning for a new round of significant price movement.