Crypto analyst Armando Pantoja is confident that XRP will experience a bullish price action, with the coin projected to reach $8 to $20 by 2026. Despite facing legal challenges from the SEC, Ripple remains focused on institutional adoption, which is seen as a major catalyst for XRP’s growth. The ongoing lawsuit has negatively impacted XRP’s market performance since its record high in 2018, creating uncertainty for investors.
However, Pantoja remains optimistic about XRP’s future, drawing on historical precedents, institutional endorsements, and strategic alliances established by Ripple. He believes that XRP’s true value lies between $8 and $20 by 2026, representing a potential growth of 3,557.6% from current levels.
Institutional adoption and strategic partnerships play a crucial role in XRP’s potential growth. Ripple has successfully integrated its technology into major financial institutions such as Bank of America and the Royal Bank of Canada. Partnerships like the HashKey DX partnership in Japan and the partnership with SBI Ripple Asia have also added value to XRP in the digital asset sphere, making it more widely accepted in traditional finance systems.
Ripple’s efforts to improve the XRP Ledger, including the introduction of the XLS-68d specification, aim to enhance the platform’s operation and usability. These technological improvements are essential for increasing XRP’s usage and attractiveness in the digital economy. Moreover, the resolution of the pending lawsuit with the SEC is crucial for XRP’s growth. Ripple’s strong opposition to the accusations and the expectation of a positive outcome have instilled hope among investors and supporters.
While Pantoja’s bullish forecast offers promising prospects, short-term market analysis suggests potential downside pressure for XRP, with key support levels in focus.
Renowned analyst Jonathan Carter has also piqued interest among cryptocurrency enthusiasts with his forecast for XRP. Carter, known for his accurate chart analysis, believes that XRP may be on the verge of a major breakout. He identifies a multi-year symmetrical triangle pattern in the XRP price chart, indicating a consolidation phase where buying and selling forces are in equilibrium. The upper trendline acts as resistance, while the lower trendline serves as support.
Carter’s analysis of XRP’s weekly time frame highlights a critical point after the recent cryptocurrency slide in April. XRP experienced a sharp decline, testing the lower trendline of the symmetrical triangle around $0.42. According to Carter, this retest suggests the possibility of renewed buying pressure.
In the event of a breakout, Carter sets aggressive price targets for XRP. The first goal is $0.93, a significant resistance level reached in July 2023. Carter’s optimism, supported by technical indicators, indicates a renewed potential for XRP to surpass this barrier.