Place the raw chicken breast into your instant pot and cut 2 pieces of raw bacon in half and place on top of the chicken breasts.
Add in the cream cheese, ranch seasoning, Rotel, and the chicken broth.
Place the lid on your pressure cooker and set to manual high for 15 minutes with 10 minutes on natural release time.
While the soup is cooking, cook 4 pieces of bacon (or more if you would like more bacon crumbles on the top of your soup). Once bacon is cooked, crumble and set aside. If you are not using pre-shredded cheese, shred your cheese and set aside.
Remove cooked chicken from the instant pot and shred the chicken using 2 forks.
Place the instant pot on sauté high. Using a whisk stir in the cheese until it’s melted.
Add the chicken back into the mixture and turn off the instant pot.
Serve chicken bacon ranch soup with the crumbled bacon and scallions.