Place chicken breasts in a single layer in a large deep skillet or pot.
In a medium bowl, whisk together the salsa, chicken broth, chili powder, cumin, garlic powder, onion powder, salt, and pepper.
Pour the salsa mixture over the chicken breasts.
Bring the liquid to a boil over medium-high heat, then reduce heat to low and cover.
Simmer for 18 to 22 minutes, or until the chicken reaches an internal temperature of 165°F (74°C).
Remove chicken from the liquid and place on a clean work surface; shred using two forks.
Return the shredded chicken to the skillet, stirring to coat with the remaining sauce.
Stir in the lime juice and fresh cilantro before serving.