Top Trader Says XRP Would Rally to $6 Once This Happens
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
— MikybullCrypto (@MikybullCrypto) June 21, 2026
Weekly Structure Tests a Critical Area
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.
RSI Mirrors a Previous Market Low
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.
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.
XRP’s Next Move
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: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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