- 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%.
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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.
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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.
