XRP has touched the lower trendline of a multi‑year ascending channel for the third time; prior retests preceded huge rallies (Feb 2017: $0.0050 → $3.31, +65,900% in ~1 year; Nov 2024 → Jan 2025: $0.50 → $3.40, ~+500%). Current price ≈ $1.38 (recent high $1.4567); analyst Mikkybull projects a midpoint channel target of $12 (~+760% from current) if XRP breaks a descending resistance line in place since January; Myles G cites a potential symmetrical triangle breakout. Near‑term risk from market pullback: XRP dropped 2.5% on May 7, 2026 and Bitcoin slid from $82,000 to ~$79,700; meaningful upside depends on clearing resistance — key crypto/DeFi token performance hinge on the breakout.

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A 65,900% price surge. That’s what followed the last time XRP touched the trendline it’s sitting on right now — back in 2017, when the token was trading at less than a penny.

Pattern Repeats At Key Support

Market analyst Mikkybull flagged the development this week, pointing to a multi-year ascending parallel channel that has shaped XRP’s price movement since its early days.

The channel has three trendlines running in parallel — lower, middle, and upper. XRP has now dropped to the lower trendline for only the third time in its history, a level Mikkybull describes as critical because of what has followed each of the previous two touches.

The first came in February 2017, when XRP fell to $0.0050. Within roughly a year, the price climbed to $3.31 — a rise of over 65,000%.

The second retest happened in November 2024, when XRP slid toward $0.50. From there, the token rallied to $3.40 by January 2025, a gain of about 500% in three months. Reports indicate that rally was partly driven by optimism surrounding US President Donald Trump’s election victory.

$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

Now XRP sits at approximately $1.38, having slipped from a recent high of $1.4567 following a broader market pullback. Bitcoin, which had briefly reclaimed $82,000, pulled back to around $79,700 in the same period. Altcoins followed.

$12 Target Emerges From Channel Math

Based on Mikkybull’s chart analysis, a recovery from the current level could send XRP toward $12 — a figure that represents the midpoint value within the ascending channel.

That would mark a new all-time high for the asset, surpassing the $3.60 record set in January 2025, and would require a gain of roughly 760% from where XRP trades today.

For that move to begin, XRP first needs to break above a descending trendline that has capped its price since January. The token has been trending downward within that structure for months, and Mikkybull says clearing that resistance is the trigger for any meaningful upside.

A second analyst, Myles G, added weight to the bullish case from a different angle. According to his analysis, XRP has been forming a symmetrical triangle over the course of several months and is approaching a breakout point. He wrote simply that XRP is “about to launch.”

Two Analysts, One Directional Call

The timing of both analyses is not coincidental. XRP dropped 2.50% on Thursday, May 7 — its steepest single-day fall in nearly three weeks — before steadying near current levels. That dip is what pushed the price back into contact with the lower channel trendline Mikkybull has been tracking.

Featured image from Pixabay, chart from TradingView

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