Polly, a notable market analyst, believes XRP has the best-looking daily chart among the top 10 crypto assets, predicting a new target for this month.
The bullish outlook prevails despite XRP’s ongoing turbulent phase amid broader market uncertainty. For instance, XRP has dropped 7.5% over the past three days. However, analyst EGRAG says this slump was an avenue for XRP to fill its symmetrical triangle formation.
XRP Has Best-looking Chart
As EGRAG argues that the recent price drop is expected, Polly has contended that XRP has one of the most bullish charts in the market. In his analysis, the market watcher called attention to a double-low structure that XRP observed before its previous explosive run to the seven-year top of $3.4 in mid-January.
Particularly, XRP witnessed the first low when it collapsed to a floor price of $1.99 on Dec. 30, 2024, after days of persistent downturn. The asset recovered from this low for a few days but faced another pullback that dragged its price down. However, the second low, which came up on Jan. 8, 2025, was $2.2, much higher than the previous one of $1.99.
After hitting this $2.2 floor price, XRP skyrocketed considerably to the $3.4 value. This marked a 54% increase within a week. Nonetheless, the resistance at this top triggered another series of price declines that has persisted until now.
XRP Looking to Repeat Previous Upsurge
Amid the ongoing bearish phase, Polly’s chart has identified a second double-low pattern. The first of the pair occurred on Feb. 7, involving a drop to $2.26. Meanwhile, the second low recently occurred yesterday, Feb. 18, resulting in a price slump to $2.46. Polly believes XRP is on track to rally again.
The analyst suggested that XRP’s price action makes it seem like a skilled market maker is guiding its movements and could soon let it rise. For his price target, Polly predicts XRP will reach $6 this month, marking a new all-time high. With XRP currently changing hands at $2.55, the asset would need a 135% increase to hit $6.
According to the analyst, once the SEC dismisses the ongoing Ripple lawsuit, which many have suggested could happen soon, a massive “God candle” could send the price soaring, leaving many wishing they had bought earlier.
Interestingly, another analyst Sqeaky Mouse argued today that the next XRP upsurge could actually be larger than the previous one which saw it claim $3.4 last month.
#XRP next move should be much larger than the recent one due to longer consolidation. Move will likely begin like last time bouncing off 30 day ema. pic.twitter.com/kVIfrm1ZVH
— Sqeaky Mouse (@TheSqeakyMouse) February 19, 2025
He cited a longer consolidation this time as the basis for his analysis, noting that the next uptrend would likely begin once XRP bounces off the 30-day EMA ($2.6036). Sqeaky Mouse suggested that the upsurge could push XRP higher than $4.2 once it decisively breaks out from the consolidation.
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