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XRP's long consolidation hints at a major breakout, says veteran trader Michael XBT.

Analyst Insights
29 Oct 2026, 00:39 WIB
Zycrypto
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Bullish
XRP's long consolidation hints at a major breakout, says veteran trader Michael XBT.

Veteran crypto analyst Michael XBT believes XRP's extended sideways trading after a 70% rally signals an upcoming major price breakout. Despite XRP's recent lackluster price action and a modest daily rebound to $1.33, the trader remains bullish, recalling his earlier call to accumulate XRP before its previous surge. Additionally, Ripple's recent regulatory approval to establish a national trust bank could enhance its institutional role, potentially supporting future price gains. Investors are advised to watch for a sustained recovery confirming this anticipated breakout.

XRP trades at Rp24.178 on Pluang, showing a 0.87% gain as of Oct 29, 2026 05:02 WIB, with a market cap of Rp1.525,59 trillion and a 24-hour trading volume of Rp37,79 trillion. Despite the article's focus on a potential breakout, Pluang data shows a balanced order activity with 56% buying and 44% selling, and investors typically hold XRP for about 72 days. This current trading behavior provides a snapshot of investor sentiment as the market awaits further price action.

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