Michael XBT Flags XRP’s Months-Long Consolidation After August Rally

Trader Michael XBT has urged renewed attention on XRP, saying its months-long consolidation after an August rebound may precede another major move, though he gave no target or precise timetable.

XRP has traded in a relatively narrow band for more than two months since that rebound. The advance followed a drop to about $0.98, and XRP gained roughly 70% in August. Consolidation describes range-bound trading; it does not mean trading stopped.

Michael XBT also referenced a July post in which he said he was accumulating XRP. “I’ve been accumulating XRP here. You’re about to see why,” he wrote. In his latest commentary, he claimed to have anticipated XRP’s fall below $1 and the recovery that followed.

He described another major move as potentially near but did not name a price level or say when it might occur. His comments leave the timing and scale of the move unspecified.