XRP has spent months moving lower from its recent highs, but one analyst believes the decline may be approaching an important turning point. With XRP trading at $1.14, crypto analyst Mikybull
XRP has spent months moving lower from its recent highs, but one analyst believes the decline may be approaching an important turning point.
With XRP trading at $1.14, crypto analyst MikybullCrypto (@MikybullCrypto) shared a new chart suggesting the asset could be nearing a final capitulation phase before a major recovery.
In a post on X, the analyst wrote: “$6 price target after this final capitulation. Probably nothing.” The forecast arrived alongside a weekly XRP chart highlighting a significant support zone and a momentum indicator sitting near levels that previously marked major lows.
$6 price target after this final capitulation
Probably nothing pic.twitter.com/LjliKYjsT0
— MikybullCrypto (@MikybullCrypto) June 21, 2026
The chart focuses on XRP’s move from its late-2024 breakout through its subsequent correction. After surging from below $0.60 to above $3, XRP entered a prolonged decline that has gradually pushed the price back toward the $1 region.
A descending trendline on the chart tracks the lows since early 2025, while another ascending trendline tracks the asset’s peaks. This pattern is similar to a descending broadening wedge, and XRP sits close to the lower trendline with crucial support near $0.95 (Fib. 0.618).
This area carries significance because it represents a common retracement zone where buyers often attempt to regain control after a strong advance. XRP currently trades only slightly above that level, placing the asset close to a support region that could influence the next major move.
Another notable feature of the chart appears in the RSI. MikybullCrypto highlighted a previous RSI bottom that formed during XRP’s lengthy consolidation period near $0.33 in 2022. The current RSI has now fallen back toward a similar oversold region. The chart marks both occurrences, suggesting the analyst sees a potential repeat of the earlier setup.
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— TimesTabloid (@TimesTabloid1) June 15, 2025
If that comparison proves accurate, the present decline could represent the final stage of a corrective cycle before a new upward trend develops. That view forms the basis of the analyst’s $6 target, representing a gain of more than 425% from XRP’s current price of $1.14.
For bullish traders, the key area remains the support zone around the 0.618 retracement. Holding above that region would strengthen the case that XRP is completing a correction rather than beginning a deeper downtrend.
Reports indicate that traders are already buying the dip, and a successful rebound could bring much higher targets into focus. Any sustained recovery would likely need to overcome previous highs.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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The post Top Trader Says XRP Would Rally to $6 Once This Happens appeared first on Times Tabloid.
