The body was found just south of where the 10-year-old boy vanished in the ocean on Sunday .
Khitan disappeared in the water while swimming with his family near Martin Luther King Jr. Boulevard in Atlantic City.
Lifeguards were off duty at the time.
Authorities say the Atlantic City Beach Patrol rescued Devine's sister from a jetty that she was holding on to.
Khitan's stepmother, Rosemary Brown, told Action News the family was met with a strong current.
"It was a current that pulled us under," Rosemary Brown said.
The Coast Guard suspended its search for Khitan on Monday night.
"The decision to suspend a search is very difficult, but after an exhaustive search by crews last night and all day today, the Coast Guard suspended our search for the missing boy. I cannot imagine the sadness felt by the child's family, and my deepest sympathy goes out to them," Capt. Kathy Moore, the commander of Coast Guard Sector Delaware Bay in Philadelphia said in a statement Monday.