XRP traded near a major support zone this week as crypto analyst XRP MikybullCrypto (@MikybullCrypto) outlined a bullish long-term setup on the monthly chart. The analyst said XRP is “on a critical level that usually triggers a strong rebound” and added that the asset could go to $12 soon.
The chart shared by MikybullCrypto showed XRP moving inside a long-term ascending channel that stretches back more than a decade.
XRP recently pulled back toward the lower boundary of that structure after failing to hold above the $3 level in late 2025. That retracement now places the asset near a support trendline that has historically produced strong upside moves.
$XRP is on a critical level that usually triggers a strong rebound
Probably going to $12 the midpoint value pic.twitter.com/scRH3GqAxs
— MikybullCrypto (@MikybullCrypto) May 7, 2026
Monthly Structure Keeps XRP in an Uptrend
The TradingView chart used a 1-month timeframe and showed XRP trading around $1.41 at the time of the post. The asset hit its peak in July 2025, but began a steady decline that lasted into early 2026. Despite the decline, the broader structure still pointed upward.
The ascending channel on the chart contained several major XRP cycles, including the rally in 2017 to its previous peak, and the rally in late 2024 that pushed it up by 500%. Each move began after XRP revisited support near the channel’s lower edge before momentum accelerated.
The latest setup appears similar. XRP moved lower in recent months while maintaining higher lows on the long-term chart. The analyst also marked a descending resistance line from the recent local top. The asset now sits in a decision zone.
What to Watch Next
The midpoint target referenced in the post is near $12 within the upper half of the channel. That level would represent a major breakout continuation if XRP maintains support and resumes its previous trend.
The lower section of the chart included the Relative Strength Index, or RSI, on the monthly timeframe. The indicator declined toward the 40 level after reaching overbought conditions during XRP’s previous rally.
Historically, XRP has rebounded when the monthly RSI cooled into this region while price held long-term trend support. Similar RSI resets appeared before previous expansion phases on the chart.
A sustained move higher from current levels would strengthen the case for another leg up within the long-term structure. The analyst’s projected $12 target remains tied to XRP, maintaining the historical trend behavior.
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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