đ„đ„đ„ Chartist Reveals Timeframe for $XRP Push to $6.3
In a recent analysis of XRPâs price movements, an analyst highlighted the marketâs indecisive state. Earlier this month, XRP dropped to a low of $0.5026 amid broader market turbulence, but it soon staged a recovery, testing the $0.60 psychological resistance level. Following this, the asset entered a consolidation phase, with buyers and sellers at a standstill.
- Despite the current stagnation, analysts like Sahintas remain bullish on XRP's long-term potential. In his latest review, Sahintas pointed out recurring patterns on the monthly XRP chart, suggesting a potential upward surge.
Symmetrical Triangles in XRP's History
- XRP has seen the formation of several symmetrical triangle patterns over the years. Notably, three of these triangles have appeared since 2013. The first occurred after XRP dropped from its $0.0614 peak in December 2013. This triangle persisted for over three years until a breakout in February 2017, which pushed XRP to its all-time high of $3.31 in January 2018.
- A significant correction from this peak led to the formation of the second symmetrical triangle, lasting from January 2018 to June 2020. XRP broke out again during the COVID-19 pandemic, reaching a high of $1.96 in April 2021.
XRP Could Reach $6.3
- The current correction has resulted in the third symmetrical triangle, which Sahintas believes will lead to another breakout, potentially pushing XRP to $6.3âan estimated 963% increase. He predicts this level could be reached by 2025, though he did not specify an exact timeframe.
- Other analysts have also noted the symmetrical triangle, with some suggesting that a rally to $0.90 could breach it. Currently, XRP is trading at $0.5923, struggling to surpass the pivotal $0.60 resistance level. Analyst Xoom pointed out that XRP faces key resistance at $0.65, $1.60, and $3.35.
Source - thecryptobasic.com
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