Popular crypto Analyst Armando Pantoja has predicted that XRP could rise to $20 in the near future. This bold prediction, shared in a recent X post, is based on a number of factors that favor a relatively fast journey to $1 and then to $20.
Popular crypto analyst Armando Pantoja has predicted that XRP could rise to $20 in the near future.
This bold prediction, shared in a recent tweet, is based on a number of factors that favor a relatively fast journey to $1 and then to $20.
Pantoja pointed out that there is a lot of whale action in the XRP market. In the last few weeks alone, institutional investors have bought $84 million of XRP showing high confidence in the token. Whales’ holding such large amounts of tokens has usually been a precursor to major price shifts suggesting that these important investors expect a rise in the price of token.
Also fueling the bullish outlook is the increasing expectations on the approval of an XRP Exchange-Traded Fund (ETF) by 2025. The creation of an ETF will open the door for bigger investors to invest in Ripple and increase the demand for token price. This alone is already adding a positive spin on the market, with investors waiting for more information on the same.
As for the technical analysis, Pantoja says that Ripple is in a strong bullish run. Popular technical analysis points to the fact that Ripple coin is about to breach major resistances that will lead to a powerful surge in its prices. If these patterns continue, the achievement of $1 is quite possible in the near future, with the $20 level as the next milestone.
Another factor that has contributed to the growth of XRP is the changing legal framework. The legal dispute between Ripple and the SEC has been rather positive for the token, as more and more the court rulings go in favor of Ripple. This has brought a sense of comfort to the investors since they no longer have to worry about the unclear status of XRP and therefore, has reinforced coin’s presence in the market.
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