While the global crypto market has shown signs of resurgence led by Bitcoin, XRP has consolidated around $0.5, raising concerns and frustration among investors. Bitcoin has gone from $60k to breaking $64k in one week, recording almost 7% increase within this time. The second-largest crypto, ETH has seen similar movements as well as other cryptocurrencies in the top 10 list.
However, the beloved XRP has seen marginal gains within the week, spiking only by 1.44%. While investors are expressing their concerns, experts are still bullish on the asset, calling for calm and dropping predictions that suggest that the asset will soon shoot to the moon. The latest is the prediction of a potential $6 surge in the coming months. Here is how.
XRP Path to $6
In a recent price analysis on X (formerly Twitter), a prominent figure in the crypto community, Cryptosahintas, made a bold prediction about the Ripple-backed cryptocurrency and why he thinks its price might catapult to $6 by 2025.
His analysis drew attention to the XRP monthly and yearly chart, showing consistencies in the price movement over time. His chart reflects several symmetrical triangles that XRP has been trading since 2013. So far, XRP has recorded three of these symmetrical triangles in its movement.
The first triangle was formed in 2013 when the coinâs price declined from its top of $0.0614 in December of that year. The triangle lasted until early 2017 when there was a breakout in February. Following the breakout, XRP capitalized on the bullish momentum until it reached its all-time high of $3.40 on January 7, 2018.
Source: Cryptosahintas/X
However, XRP soon dropped from the high, resulting in the formation of the second symmetrical triangle in 2018. The triangle held for four years, from January 2018 until June 2020 during the peak of the COVID pandemic. Less than a year later, in April 2021, XRP broke out to a high of $1.9.
Following this surge was a price correction that started the third symmetrical triangle. As seen in the chart above, the third triangle lasted for three years, until 2024. A break out from this triangle will mean a significant surge to a new all-time high, potentially doubling the previous.
According to Cryptosahintas, the next target for XRP, judging from previous patterns is between $5 and $6. This would mean an almost 970% increase from the current price for XRP. Even though he didnât exactly say the month when this will happen, he rather put it vaguely, citing 2025.
Other Analysts Predict Bullish Behavior
Meanwhile, Cryptosahintas is not the only pundit who has predicted a parabolic surge for XRP. Other experts have also cited the symmetrical triangle in their analysis even though there seem to be some discrepancies with when the first triangle formed.
Another notable figure in the crypto community, Crypto Bitlord on X, pointed out that XRP is ready for an imminent âparabolic explosion,â shooting the value of the coin to levels not seen before. He urged his followers and investors not to âsleepâ as they could miss out on the millions other active traders will make.
I think $XRP is ready -Expecting a parabolic explosion vertically within 24hrs.Donât sleep, millions can be made timing this move
â Crypto Bitlord (@crypto_bitlord7) September 22, 2024
In a separate tweet in response to the previous, he noted the âamount of hateâ XRP has gotten over the years. He referenced the last time he called attention to XRP, urging investors to buy and hold the coin. After his call during the time, XRP added some billions to its market valuation. Crypto Bitlord emphasized that he would love a repetition of that pattern, hence his outright call for attention to the XRP community.
Meanwhile, at the time of writing, the price of XRP added 0.39% to its value to trade at $0.5866. As XRP continues its effort to breach $0.6, it will be interesting to see how it will all unfold concerning the above predictions.
The post XRP to Hit $6 in 2025, Analyst Reveals How This Will Happen appeared first on Coinfomania.
