TLDR
- Veteran trader Michael XBT has advised XRP holders to watch the asset closely this week for potential movement.
- Analysts are optimistic that XRP could be entering Wave III, which historically signals a strong upward phase.
- Technical indicators such as XRP’s position above the 21-day exponential moving average suggest strength in the asset.
- Large investors are accumulating XRP during recent dips, which is seen as a sign of strong support.
- Fundamental developments like Ripple’s acquisition of Rail Financial and ETF applications could further drive XRP’s growth.
XRP holders face uncertainty as the asset endures weeks of downward pressure. However, some analysts now believe XRP may be preparing for a potential rebound. Veteran trader Michael XBT recently advised followers to “watch XRP this week.” His comments come as XRP is down 9.63% over the last month, sparking speculation about a potential reversal.
Michael XBT, known for his accurate predictions, has garnered attention for his bold forecasts. In mid-2024, he predicted a breakout for XRP when it was trading at $0.50. His prediction came true when XRP surged to $3.40 by January 2025, marking a nearly 600% increase.
Watch XRP this week.
That’s all I’m going to say publicly.
My group members know why…
— Crypto Michael (@MichaelXBT) September 7, 2025
XRP Could See Major Rise in Wave III
Several analysts now share Michael XBT’s optimism regarding XRP’s potential for a recovery. Analyst Davie Satoshi recently pointed to an Elliott Wave formation on XRP’s monthly chart. This suggests that XRP could be entering Wave III, historically the most significant phase of the cycle.
Rapid Fire Charts: $XRP
I may not have the biggest $XRP following yet, but this setup is too clean to ignore. 📊
The monthly log chart is showing textbook Elliott Wave structure. If the count holds, we’re entering wave iii of major wave 5, historically, the most explosive move.… pic.twitter.com/vrgEiPHXuY
— davie satoshi (@NFTdavie) September 7, 2025
Wave III could signal a strong upward move for XRP holders, especially if the broader market supports it. Analyst Dark Defender also believes XRP has completed its corrective Wave IV. If the $2.85 support level holds, Dark Defender projects that XRP could rise toward $4.50.
Support from Technical Indicators and Whale Activity
XRP’s technical indicators also suggest strength, with some analysts seeing signs of a potential breakout. EGRAG, another respected analyst, pointed to XRP’s position above the 21-day exponential moving average. This is often viewed as a sign of strength, with short-term targets near $3.90 and long-term projections as high as $46.
In addition, large investors appear to be positioning themselves for a potential upward move. Analyst Ripple Van Winkle reported significant whale accumulation during recent dips below $2.70. This activity is seen as a sign of strong support for XRP, further reinforcing the positive outlook for the asset.
XRP Benefits from ETF Applications and Developments
Several key fundamental drivers are also contributing to the optimism surrounding XRP. Ripple’s acquisition of Rail Financial, the introduction of Ripple’s RLUSD stablecoin, and the global adoption of the ISO 20022 standard are all seen as bullish for XRP. Additionally, XRP’s involvement in exchange-traded fund (ETF) applications further supports the positive sentiment.
These developments are expected to complement the bullish technical outlook, enhancing XRP’s potential growth. Analysts continue to watch XRP closely as they assess both technical and fundamental factors. With strong market signals and whale activity, many believe XRP holders may see a significant move in the near future.
