American wealth advisor Mickle believes XRP is forming a moon pattern amid ongoing price trends with the potential for big yields for investors.

XRP has not escaped the most recent sell-off in crypto triggered by Bitcoin’s volatility. Early today, XRP hit a fresh low of $0.5446 after having reclaimed a four-month high of $0.65 last week—a notable feat achieved during the bearish market conditions at the time. However, XRP could not defy the market-wide dump this time.

At press time, XRP had advanced slightly from its low, but it remained significantly below the $0.6 range. Meanwhile, market watchers like Mickle believe that XRP is developing a “moon shot” pattern amid the ongoing market trends.

XRP Moon Pattern

In a recent analysis, the U.S.-based wealth advisor highlighted that XRP is currently completing a massive formation that has previously pumped its price.

Mickle referenced the ranging pattern XRP exhibited from 2013 to 2017. During this period, XRP formed a symmetrical triangle pattern, with a peak value of $0.0485 in 2013 and a subsequent low of $0.0055 in early 2017.

XRP eventually reversed this trend and engineered a breakout rally that sent it to an all-time high close to $4.

Mickle noted that before this big move, XRP exhibited patterns suggesting an impending “doom and gloom.” Moreover, he observed that during the period, XRP traded sideways despite exponential improvements in its fundamentals.

Accordingly, critics declared XRP dead, calling it a “crap coin” that no one would use. Then, in one of the most parabolic moves in cryptocurrency history, XRP’s price surged, instantly pricing out many investors.

Indeed, considering XRP’s low value just before the surge to $3.84, the price growth exceeded 70,000% gains.

How XRP May Rally This Time

Mickle highlighted that examining XRP’s current behavior reveals that it is visibly forming a symmetrical triangle pattern similar to its previous formation, suggesting the potential for history to repeat itself.

Mickle has described investing in XRP as similar to buying Apple’s stock in the early days, which had been up by over 5,000%. However, he expects XRP to do much better than that, suggesting a likely 100,000% return for the coin, a view other XRP community analysts agree with.

However, critics vehemently disagree with this ambitious estimation, citing XRP’s current multi-billion dollar market cap. Conservative estimates project XRP reaching around $2 to $5 if the anticipated symmetrical triangle pattern breaks to the upside.