Market Analyst Predicts Timeline for XRP to Hit $6
A notable market watcher provides a timeline for XRP to claim a price that is nearly double its 2017/2018 all-time high.For context, XRP has been navigating a volatile market environment amid broader bearish trends triggered by hawkish Federal Reserve commentary. Fed Chair Jerome Powell's recent statements suggested lower-than-expected interest rate cuts in 2025. A Steep DropThis reality, coupled with comments around legislative restrictions barring the Fed from holding Bitcoin, has weighed heavily on the cryptocurrency market. XRP responded with steep losses, plunging 9.91% on Wednesday and another 3.24% the following day. The token dropped to $1.96 on Dec. 20, but bullish momentum emerged, driving a 4.35% rebound to $2.37 at press time this morning.Meanwhile, analysts like CryptoBull believe this correction is a precursor to a major breakout. CryptoBull has shared a chart featuring a symmetrical triangle formation and signaling that XRP may be completing its correction phase. According to the notable market commentator, this structure will resolve within the next week. He expects such a resolution to propel XRP to a new all-time high of $6 within days of the breakout. XRP's Symmetrical Triangle The 1-day chart shows that the symmetrical triangle pattern developed following XRP's sharp drop from $2.9, its seven-year peak, on Dec. 3. This pattern typically represents market indecision, with prices consolidating as bulls and bears compete for dominance. Notably, with XRP now close to the triangle's apex, this position suggests a breakout is imminent.
Text source: The Crypto Basic
