By Finbold | Created at 2026-06-06 10:33:21 | Updated at 2026-06-08 01:29:12
1 day ago
XRP could climb to $6 by early May 2029 if historical price patterns continue to play out, according to a new technical analysis that points to the cryptocurrency’s long-term Fibonacci channel up structure and monthly momentum indicators.
The forecast comes as XRP remains under pressure following a prolonged correction that has mirrored the asset’s 2021–2022 bear market cycle.
The token has also traded in line with the broader cryptocurrency market downturn in recent weeks, struggling to hold the key $1 support level. At press time, XRP was trading at about $1.10, having dropped 3% in the past 24 hours while on the weekly timeline, the asset is down 18%.
XRP seven-day price chart. Source: Finbold According to a June 5 TradingView analysis by TradingShot, a sell signal issued in November 2025 when XRP was trading at $2.20 remains valid, with the ongoing decline following a Channel Down formation similar to the previous major market downturn.
XRP price analysis. Source: TradingViewThe analysis indicates that XRP is approaching a potential long-term bottom zone between $0.80 and $0.65.
This range aligns with key support levels, including the monthly 100-period moving average and the monthly 150-period moving average.
The lower end of the range also sits slightly below the 0.618 Fibonacci retracement level, an area closely aligned with XRP’s June 2022 cycle low.
At the same time, XRP’s monthly Relative Strength Index (RSI) is nearing a long-term lower-lows trendline that has historically generated some of the asset’s strongest buy signals.
Similar RSI behavior emerged around previous cycle bottoms in 2020 and 2022 before XRP entered significant bullish phases.
XRP buy signal
The analysis suggests XRP’s monthly RSI could generate a long-term buy signal within the next three to five months as the asset approaches a six-year buy zone, potentially marking the end of the current bear cycle.
From there, XRP could enter a new bull phase and continue advancing within its long-term ascending channel toward the higher-highs resistance trendline.
Based on this structure, the analyst projects XRP could reach $6 by early May 2029, representing the next major upside target in the current market cycle.
However, the bullish outlook depends on XRP holding support within the identified accumulation zone and eventually breaking above the higher-highs resistance trendline that has capped price advances throughout the current cycle.
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