In the dynamic world of cryptocurrency, Armando Pantoja, a notable analyst, IBM blockchain award recipient, and member of the Benzinga crypto advisory board, has called for investors to abandon skepticism towards XRP. Despite the prevailing market uncertainties surrounding this token, Pantoja remains optimistic about its future.
Explosive Run Imminent?
In a recent social media post, Pantoja encouraged investors to maintain faith in XRP, highlighting several reasons for his confidence in an upcoming explosive run. This comes after XRP’s remarkable 284% rally in November, which has since slowed amidst broader market consolidation.
XRP shocked the world in 2017, rising from $0.003 to $3.31, something critics said could “never happen”. It surged 110,000%, turning $1,000 into $1.1 million in just one year. Now the lawsuits are soon over, and Trump is coming. It’s time to shine.
As many experts anticipate a resurgence of XRP’s upward trend, the current phase of price stagnation has led to investor uncertainty and profit-taking. Recent data shows that XRP Exchange Reserve on Binance has increased from 2.79 billion tokens on December 16 to 2.93 billion currently. This rise indicates that market participants are preparing to sell, yet Pantoja remains firm in urging investors to hold their positions.
Where This Uncertainty Stems From?
The prevailing uncertainty surrounding XRP originates from its underperformance during the 2021 bull run and the early phases of the current bull market. Veteran market analyst Raoul Pal even warned that XRP investors might miss out on potential gains, suggesting they look for opportunities elsewhere.
Despite its past performance following a Trump victory in the US elections, skepticism has resurfaced around XRP. Some analysts have set ambitious targets for XRP, such as reaching $27 or even $33, though these predictions are often viewed with skepticism.
Nevertheless, Pantoja remains optimistic, citing XRP’s explosive growth during the 2017/2018 cycle as a key factor. Back then, XRP started at a low of $0.003 in January 2017, lagging behind other assets at the bull run’s onset.
XRP Set To Outperform The Market?
Remarkably, once XRP broke through, it surpassed the rest of the market, surging from $0.003 to an all-time high of $3.31 in January 2018—an incredible 110,233% increase within a year. Pantoja emphasized that this historic run demonstrated XRP’s potential, instilling confidence among analysts.
Several catalysts could contribute to a similar growth trajectory, such as the anticipated resolution of the SEC vs. Ripple lawsuit and the potential establishment of a crypto-friendly administration with the incoming leadership in January 2025. With Trump’s promise of a more favorable cryptocurrency environment, his inauguration is expected to spark another market rally.
As of now, XRP is trading at $2.16, reflecting a 10.71% increase in December, despite ongoing market volatility. Investors and analysts alike are keenly watching to see if XRP will indeed shine once more.
