XRP’s price movement in the upcoming bull run has become a hotly debated topic in the community. While some analysts predict a modest upswing, others, like prominent Bitcoin investor Armando Pantoja (@_TallGuyTycoon), envision a much more significant price increase.
Pantoja recently took to X to challenge forecasts that peg XRP’s price target at $5 for the current bull run. He argues that such projections significantly underestimate XRP’s potential within the cryptocurrency landscape. Pantoja likens this $5 target to a mere $1,000 price cap for Bitcoin in 2015.
There people saying #XRP will reach $5 are significantly underestimating.
This is similar to predicting #Bitcoin would cap at $1,000 in 2015. XRP is on a trajectory akin to Bitcoin's in 2015, with a rapidly growing network effect.$XRP prediction: $10-$20. Thoughts?
— Armando Pantoja (@_TallGuyTycoon) April 6, 2024
Read Also: Attorney John Deaton Addresses XRP Doubters, Says “FOMO Won’t Likely Kick in Until $2”
For context, Bitcoin started 2015 at a low price around $300. However, by December 2017, it had experienced a staggering 6,000% surge, reaching a peak of over $19,000. Drawing a parallel between XRP’s current situation and Bitcoin’s early trajectory, Pantoja expresses confidence in XRP’s potential for substantial growth. Based on this comparison, he believes XRP will reach price points between $10 and $20.
XRP is trading at $0.6161, and a climb to $20 represents a 3,146% increase. This prediction has garnered favorable reactions from excited community members.
Is $5 Truly an Underestimate?
Dark Defender, a prominent crypto analyst, recently predicted a surge to $1.88 and $5.85 for XRP. However, Pantoja’s statement suggests this underestimates the digital asset’s true potential.
Some analysts share this belief. EGRAG CRYPTO, another prominent crypto analyst, recently predicted a rally to $17 and potentially $27 for XRP based on an ascending triangle formation on the XRP chart.
Doubters Within the XRP Community
However, not everyone subscribes to Pantoja’s optimistic projections. X user Jorge Pineda expressed skepticism regarding XRP reaching such lofty heights.
Pineda revealed that he was once a strong proponent of XRP, but his perspective has shifted. He highlighted the close link between XRP’s value and development activity on the XRP Ledger (XRPL). He expressed concern about a trend where several prominent projects are migrating away from the XRPL.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: State-of-the-Art Machine Learning Algorithm Sets XRP Price for March 1, 2024
Another prominent analyst presented a counterpoint. Even when employing Fibonacci retracement levels, a technical analysis tool, he suggests surpassing $7.3 for XRP appears improbable. From his perspective, a $5 target aligns more realistically with current market conditions. Also, some commentators believe XRP should reclaim the $1 mark before entertaining discussions about even steeper price rises.
While there is no crystal ball to predict the future of XRP with certainty, Pantoja’s bullish outlook has renewed the hope of many XRP investors. Ultimately, only time will tell how high XRP can climb during the ongoing bull run. However, with Ripple’s new stablecoin initiative, XRP’s climb could begin very soon.
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