In a mixing bowl, combine the cream of chicken soup, softened cream cheese, and ranch dressing mix. Mix until smooth and well combined.
Place the chicken breasts in the bottom of the Crock Pot. Pour the cream cheese mixture over the chicken, ensuring it is evenly coated.
Pour the chicken broth around the edges of the Crock Pot, being careful not to disturb the cream cheese mixture on top.
Cover and cook on low for 6-8 hours or on high for 3-4 hours, until the chicken is cooked through and tender.
About 30 minutes before serving, sprinkle the shredded cheddar cheese on top of the chicken and cover again to allow the cheese to melt.
Once cooked, shred the chicken in the Crock Pot using two forks and stir to combine with the sauce.
Serve hot, garnished with chopped parsley if desired.