The crypto market is always volatile, but XRP price has become the hot topic of discussion among analysts for its next big move. Despite the current market uncertainty, Benzinga crypto advisor and blockchain expert Armando Pantoja thinks XRP is about to explode. Will XRP go up big in the next few months?
As of this writing, XRP is trading at $2.16, up 10.71% in December but still consolidating after its 284% move in November. Pantoja’s bullish view is backed by historical data and the market dynamic that XRP is about to break out.
Historical Data Shows Big Ups for XRP
XRP’s past performance shows what the token can do in terms of big price moves. Based on available data, during the 2017/2018 bull run, XRP started at $0.003 and went all the way up to $3.31 in January 2018, a 110,233% increase in a year.
“This rally turned $1,000 into $1.1 million,” said Pantoja, explaining the token’s ability to change fortunes when the stars align.
While some think XRP’s current move has lost all its steam, he’s less sceptical, citing XRP’s history of underperforming at the start only to outpace the bigger market.
Why XRP Price Could Explode
Here are some reasons for another big move:
- Exchange Data: Recent data shows that XRP held in the Binance reserve wallet has been increasing, from 2.79 billion on December 16 to 2.93 billion. Although this could be selling pressure, increased market activity always precedes big moves.
- End of SEC vs Ripple lawsuit: Most of the time, the price of XRP has been agitated by the current ongoing lawsuit. For it, favourable results from this case could throw much-needed regulatory clarity, and institutional investors could be attracted to buying the token, stated analysts.
- Pro-Crypto Leadership in the US: Donald Trump will be inaugurated as President in January 2025, and that brings a more crypto-friendly regulatory environment. While announcing the opening of a strategic reserve of Bitcoin to be followed by pro-crypto appointments, the administration promised a more innovation-friendly approach in the crypto space. Good news on regulatory front has always been a trigger for the general market to rally. Given these changes, the XRP looks good.
- Market Sentiment and Adoption: XRP’s ability to attract investors during chaos is also something to watch. Pantoja is advising investors to take a longer-term view of the token based on its fundamentals and increasing utility in payments.
Analysts’ Forecast for XRP
While some analysts are pricing XRP as high as $27 to $33 in the next bull run, for Pantoja, his confidence comes from XRP’s ability to outperform every time it breaks out of consolidation phases.
But seasoned investors are far more sceptical. According to Raoul Pal, one of the risks is that XRP holders could miss out on other opportunities if this token doesn’t deliver. The mixed sentiment is the middle ground for XRP price movement.
Conclusion: Beyond 2024
Based on the trend and the above points XRP could see big price moves in 2024 and 2025. A break above key resistance could take the token to its all-time high of $3.31 and more if the macro and regulatory environment is favourable.
While we can’t predict to the dollar and cent, a move to $5 or more is not impossible, especially if institutional adoption starts to pick up. For long-term investors, XRP could be a high risk high-reward asset with a lot of upside.
As always, a full house of doubts and scepticism is entertained, but if Pantoja’s analysis is right, then XRP might be on the cusp of another big move. His analysis puts a lot of weight on patience and proper positioning in this regulatory and macro environment.
If investors want to ride the XRP wave, they would have to weigh the short-term volatility risks against the long-term growth potential, with key catalysts coming up and setting the stage for XRP to get back to its former self as one of the top performers in the crypto space.
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FAQs
1. What is the current price of XRP?
$2.16 currently, up 10.71% in December, despite the market being flat.
2. Why is XRP uncertain in the market?
Profit-taking trades, Range-bound price action, and underperformance in previous bull runs.
3. Why are analysts so bullish on XRP?
Armando Pantoja mentions XRP’s history, SEC vs Ripple lawsuit and pro-crypto US leadership as the reasons.
4. How has XRP performed in past bull runs?
In the 2017/2018 cycle, XRP went from $0.003 to $3.31, 110,233% in 1 year.
5 . What will the Trump administration do for XRP?
Pro-crypto Donald Trump and the announced regulatory reforms could be good for digital assets like XRP and might trigger another move.
