Many investors believe XRP has underplayed its position as one of the older cryptocurrencies introduced in the market. Some believe the coin’s vast potential has been undermined by Ripple’s legal issues with the United States Security and Exchange Commission (SEC).
While some are pessimistic about XRP’s potential, prominent Bitcoin Investor Armando Pantoja thinks the token will exceed expectations. He shared his projections for XRP’s next price move, saying it will hit between $10 and $20.
Bitcoin Investor Bullish on XRP’s Price Outlook
In a recent X post, Pantoja claimed that those who forecast XRP’s price rising to $5 are underestimating the asset.
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
Pantoja likened the predictions to 2015 Bitcoin forecasts, where most investors limited Bitcoin to $1,000. However, BTC exceeded expectations, rising from $310 early in 2015 and gaining 6000% to trade at $19,188 by December 2017.
Pantoja believes XRP will follow a similar trend to Bitcoin’s historic run. He believes Ripple has high growth potential and could rally between $10 and $20 in the current cycle.
Pantoja believes that XRP will rally to a minimum value of $10 in the post-halving period. However, XRP must surge at least 3,300% from its current valuation of $0.6 to reach the projected price.
Another crypto investor, Crypto Crusader, shared a similar sentiment last month for XRP. He said XRP would trade in the $5-$10 range in the current market cycle.
The investor acknowledged that many doubt his theory. However, those doubters were still the same people cheering for Bitcoin to rise between $100,000-$150,000.
Crypto Crusader noted that XRP’s strong fundamentals, including its market cap, which is similar to Ethereum’s, support his theory. Given its potential, he believes his forecasts are even more conservative for XRP.
Some Investors Counter The Ripple Bullish Forecasts
While Pantoja and Crypto Crusader are bullish on Ripple, investor Jorge Pineda has a contrary view. Pineda said he was an XRP supporter once, but not anymore.
According to Pineda, the value of XRP is based on people who build on the XRP Ledger (XRPL). Based on his analysis, most major projects building on the XRPL have abandoned it because it is a dead chain with no potential.
Recall XPUNKS, the creators of the first NFTs on the XRP ledger, moved to rival blockchain Solana last month. While specific reasons for relocating the project were not given, its departure raised questions from the crypto community.
Also, another investor and analyst, Jee Wiz, noted that a price increase for XRP seemed quite difficult even when considering Fibonacci levels. According to Wiz, a scenario where XRP will rally beyond $7.3 is extremely bullish. However, he noted that $5 is believable for the asset.
Despite the negative reactions, Ripple Labs has continued to forge ahead, recently announcing its plans to launch a stablecoin. However, XRP’s price performance in the current market cycle remains largely speculative.
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