In the world of cryptocurrency, where market dynamics can shift rapidly, investors often find themselves searching for reliable guidance. Armando Pantoja, a prominent analyst and recipient of the IBM blockchain award, is one such voice urging investors to remain optimistic about XRP despite the prevailing market uncertainties. As a member of the Benzinga crypto advisory board, Pantoja’s insights carry significant weight in the crypto community.
Explosive Run Imminent?
In a recent social media post, Pantoja encouraged investors to stop doubting XRP, citing several reasons for his bullish outlook. He believes that an explosive run for XRP is on the horizon. This sentiment comes in the wake of XRP’s impressive 284% rally in November, which has recently slowed amid a broader market consolidation.
Reflecting on XRP’s past performance, Pantoja pointed out the token’s meteoric rise in 2017, when it surged from a mere $0.003 to a remarkable $3.31. This 110,000% increase transformed a $1,000 investment into $1.1 million in just one year. Such historical performance fuels the belief that XRP is poised for another significant breakout, especially with the anticipated resolution of ongoing lawsuits and potential political changes on the horizon.
Where This Uncertainty Stems From?
The current uncertainty surrounding XRP stems from its underperformance during the 2021 bull run and the early phases of the ongoing market rally. Even seasoned market experts like Raoul Pal have expressed concerns that XRP investors may miss out on current gains, suggesting they explore other opportunities.
Despite the skepticism, some analysts have set ambitious targets for XRP, predicting price levels as high as $27 and $33. While these forecasts may appear unrealistic to some, Pantoja remains optimistic. He draws parallels to the altcoin’s explosive performance in the 2017/2018 cycle, emphasizing that XRP’s potential remains intact.
XRP Set To Outperform The Market?
Historically, once XRP overcame early hurdles, it outperformed the broader market, rallying from its $0.003 low to an all-time high of $3.31 in January 2018. This remarkable 110,233% increase within a year is a testament to XRP’s potential to deliver substantial returns.
Pantoja highlights several factors that could contribute to another explosive run for XRP. The anticipated conclusion of the SEC vs. Ripple lawsuit and the possibility of a pro-crypto administration taking office in January 2025 are key catalysts. With promises of a more crypto-friendly political landscape, investors are eagerly anticipating another market rally. As of now, XRP is trading at $2.16, reflecting a 10.71% increase in December despite ongoing market volatility.
