Volatologist reveals time frame for XRP to hit $63

Market analyst and cryptocurrency chartist Sahintas believes that XRP is expected to double its existing all-time high in the coming months.

The analyst revealed this in a recent analysis of XRP’s price action amid a state of indecision in the market. Recall that XRP fell to a low of $0.5026 earlier this month amidst the overall market turmoil.

However, it staged an impressive recovery and subsequently retested the $0.60 psychological resistance level. However, after retesting $0.60, XRP entered a consolidation phase where buyers and sellers remain in uncertainty.

Nonetheless, analysts like Sahintas are optimistic about XRP’s long-term potential. In his latest analysis, the market commentator presented a pattern in the monthly XRP chart. His aim was to draw attention to the consistency of these patterns and how they could suggest an impending surge for XRP.

XRP Symmetrical Triangle

It is worth noting that XRP has been experiencing a symmetrical triangle structure over the years. The altcoin has recorded three such triangles since 2013. Specifically, the first triangle was formed in December 2013 when XRP fell from a high of $0.0614.

This triangle lasted for more than three years until a breakout occurred in February 2017. XRP rallied in a breakout to an all-time high of $3.31 in January 2018.

However, the decline from this high has resulted in the formation of a second symmetrical triangle. The second triangle lasted from January 2018 to June 2020, with XRP breaking out during the COVID-19 pandemic. XRP eventually reached a high of $1.96 in April 2021.

XRP Price May Target $6.3

Another correction from this high has now led to the formation of a third symmetrical triangle. It is worth noting that this third triangle has persisted throughout this year, with a breakout imminent that could propel XRP to greater heights. Sahintas believes that the next high could be $6.3, which would represent a 963% increase for XRP.

The market analyst expects XRP to reach this price point in 2025, but did not specify a specific month. Besides Sahintas, other market watchers have also taken note of this symmetrical triangle and set different price targets. Some believe that the current triangle began in 2018 and anticipates a move to $0.90.

Currently, XRP is priced at $0.5923, struggling to overcome the critical resistance level of $0.60. Some commentators have highlighted the significance of the $0.60 point, which XRP has been struggling to reach. Analyst Xoom pointed out that XRP’s three strongest resistance levels are $0.65, $1.6, and $3.35.

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