XRP price is once again in the spotlight after prominent crypto analyst Michael XBT, who accurately forecasted its 600% rally from $0.38 to $3.40 between July 2024 and January 2025, suggested the coin may be setting up for another major breakout.
His original prediction was based on a rare technical pattern called a 7-year bull pennant. Now, he’s drawing parallels with Bitcoin’s own multi-year breakout, sparking renewed interest among retail and institutional investors.
XRP’s last breakout followed a multi-year formation
In July 2024, XRP appeared to be in decline, shedding 25% in Q2 and hitting a yearly low of $0.38 on 5 July. At the time, trading volume was weak and investor interest was dwindling.
Michael XBT spotted a long-term bullish setup known as a 7-year bull pennant — a continuation pattern in technical analysis — and publicly predicted that XRP would rally. In a tweet dated 5 July 2024, he suggested a sharp move was imminent.
That forecast materialised six months later. XRP soared to $3.40 by 16 January 2025, a gain of 600% from its July lows. The move caught much of the market by surprise and re-established XRP as a key altcoin to watch in the broader crypto landscape.
XRP’s current price points to consolidation phase
After peaking in January, XRP price has entered a period of consolidation. It posted a 46% gain in January 2025 but followed up with declines in February (-29.3%) and March (-2.52%), a modest recovery in April (+4.98%), and relatively flat moves in May (-0.80%) and early June (-0.74%).
As of 10 June 2025, XRP is trading at $2.17, down 7.5% over the past 30 days and 2.8% in the last 24 hours. On 7 April, it touched an interim low of $1.60, but has since bounced back above $2.
Michael XBT has described this as a “healthy cooldown” rather than the end of the rally. He has not issued a new price target but noted similarities between XRP’s current structure and Bitcoin’s 8-year trendline breakout, which ultimately led to all-time highs.
Long-term projections vary widely
Analysts continue to debate XRP’s future, with price forecasts ranging from modest gains to triple-digit speculation.
Some industry analysts have suggested XRP price could climb to between $5 and $30 during this market cycle, citing Ripple’s increasing partnerships and demand for cross-border payment solutions.
However, more extreme projections — such as a $100 price target — are still considered unrealistic by many in the industry due to current supply dynamics and regulatory uncertainty surrounding Ripple.
Michael XBT’s new analysis adds credibility to the view that XRP may have further room to climb, but without a specific target, investors are interpreting his remarks as directional rather than definitive.
Investors focus on Ripple’s fundamentals
Ripple’s expansion into institutional finance and global payment infrastructure continues to fuel optimism.
The company’s ongoing push into markets across Asia-Pacific, Europe, and Latin America has helped sustain demand for XRP even during pullbacks.
At the same time, traders are closely watching XRP’s ability to hold support above $2, with $1.60 viewed as a key level. Technical traders will be looking for volume confirmation and higher highs before calling the next leg of the rally.
XRP’s volatility makes it a speculative play, but with previous patterns repeating and technical sentiment leaning bullish, the crypto remains firmly on the radar of trend-following investors.
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