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Armando Pantoja, a Benzinga crypto advisory board member, has issued a timeline for when XRP may advance by 3,626% to trade at $20.
XRP has invalidated most of the proceeds it accrued within the last 24 hours, with its market value at $0.5367. The asset briefly hit $0.5689 yesterday, one of its highest values in two weeks. However, it has since corrected most of the gains, bringing its cumulative performance below 1% since the last day.
Moreover, at its current price, XRP still retains a 10% loss from the value it sold a month ago. Despite the underwhelming performances, market analysts remain confident that XRP could secure significant gains to become a two-digit valued asset potentially.
Timeline for XRP to Hit $20
Early today, Pantoja expressed his optimism about XRP’s future and suggested a timeline for when it could attain values between $8 and $20. According to him, XRP’s “true value” is within the $8 to $20 range. He believes XRP will claim this true value range by 2026.
Moreover, Pantoja revealed that his XRP investment counts as “the easiest trade” of his life. He went on to highlight a few factors that influenced his optimistic target for XRP.
$XRP true value is $8-$20 by 2026. It's the easiest trade of my life.
1. Historical Precedent Powerhouse
2. Institutional Adoption Tsunami
3. Market Trends and Utility Explosion
4. Future Financial Services Demand
5. Legal Clarity & Partnerships will Boom pic.twitter.com/fv2WlkuNHk— Armando Pantoja (@_TallGuyTycoon) May 7, 2024
Factors That May Influence XRP $20
The leading element is XRP’s six-year history. In particular, XRP expanded by 750-fold in less than 52 weeks in the 2017/2018 cycle. However, XRP has been in a downward spiral ever since. Essentially, the industry commentator believes XRP could repeat history, a view many other analysts have shared.
Furthermore, Pantoja drew on XRP’s anticipated institutional adoption, the resolution of Ripple’s lawsuit, and the increased partnership that may follow. These factors are expected to enhance XRP’s appeal, boost interest, and subsequently bolster price action.
XRP Growing 3,636% by 2026
XRP selling for $0.5367 implies it must grow by at least 3,636% in the next two years to hit the projected $20 target. Essentially, this Bitcoin commentator, like many others, is confident that XRP will crack the double-digit range in the coming years.
However, in recent times, XRP has not proven capable of staging the widely projected bullish performance. For instance, it has not reclaimed the $1 price level for nearly three years, consistently trading about 50% below $1 over the years.
Moreover, XRP last established an all-time high six years ago. Some crypto market participants remain skeptical about XRP reclaiming $3.84 this season, especially as it has displayed a barely commendable trajectory in the last seven months that marked the initial phases of this bull season. However, this has not impacted the confidence of others.