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.