- Institutional adoption and new partnerships could boost XRP’s value in the wake of Ripple’s legal case.
- Despite not surpassing $1 recently, the analyst believes XRP can reach the double-digit range.
Armando Pantoja, a crypto advisor for Benzinga, outlined a timeline predicting when XRP could reach $20, representing a significant rise of 3,626%.
Currently, XRP is priced at $0.5367 after reaching $0.5689, its highest level in two weeks. Although its value has dipped, analysts are still optimistic that XRP can achieve a double-digit valuation.
$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
Projection for XRP to Reach $20
Pantoja expressed confidence in XRP’s future, estimating that it could reach values between $8 and $20. He believes this valuation is achievable by 2026, describing his XRP investment as one of the simplest decisions he’s made. Several factors have influenced his positive outlook.
Factors Affecting XRP’s Possible $20 Target
One key factor is XRP’s historical trend. In the 2017/2018 cycle, XRP’s value increased 750 times in less than a year. Pantoja and other analysts anticipate a similar surge.
He also cited the potential for institutional adoption, a favorable outcome in Ripple’s legal battle, and increased partnerships. These factors could enhance the cryptocurrency’s appeal, increase interest, and strengthen its value.
XRP’s Growth of 3,636% by 2026
To hit $20, XRP would need to grow by at least 3,636% over the next two years. Market analysts like Pantoja believe this is possible, expecting XRP to reach double digits in value soon.
However, XRP has had challenges in recent years. It has struggled to surpass the $1 mark for nearly three years and has traded about 50% below this threshold consistently.
Moreover, XRP reached its all-time high six years ago. Some market observers remain skeptical that it can even reclaim $3.84, especially given its flat performance over the past seven months. Despite this, others believe in XRP’s long-term potential and are confident that the cryptocurrency can achieve new highs.
