Crypto analyst Armando Pantoja has an optimistic outlook for XRP, despite the ongoing legal challenges faced by Ripple. Pantoja predicts that XRP could surge to between $8 and $20 by 2026, representing a potential growth of 3,557.6%. He bases his forecast on historical precedents, institutional adoption, and strategic partnerships established by Ripple.
Institutional adoption remains a key driver for XRP’s potential growth. Ripple has successfully integrated its technology into major financial institutions like Bank of America and the Royal Bank of Canada. Collaborations such as the partnership with HashKey DX in Japan and SBI Ripple Asia have also added value to XRP in the digital asset space. These developments indicate that XRP is gaining acceptance and usage in traditional finance systems.
Ripple is actively working to improve the XRP Ledger (XRPL) with initiatives like the XLS-68d specification to enhance its functionality and usability. These technological enhancements are crucial for increasing XRP’s appeal and usage in the digital economy. Furthermore, the resolution of the pending lawsuit with the SEC is vital for XRP’s growth. Ripple’s strong defense against the SEC’s accusations and the anticipated positive outcome have raised hopes among investors and supporters.
While Pantoja’s bullish forecast paints a promising future for XRP, short-term market analysis suggests the possibility of further downside pressure for the asset. Technical indicators indicate that XRP may face challenges and test key support levels in the near term.
Renowned analyst Jonathan Carter has also generated interest with his forecast for XRP. Carter suggests that XRP may be on the verge of a significant breakout, based on the symmetrical triangle pattern in its price chart. This pattern indicates a state of consolidation where two trend lines intersect. In the case of XRP, the upper trendline acts as resistance, while the lower trendline serves as support.
Carter’s analysis of XRP’s weekly time frame highlights a critical point after a recent decline in April. XRP experienced a sharp drop to around $0.42, leading to a retest of the symmetrical triangle’s lower trendline. According to Carter, this retest suggests the possibility of renewed buying pressure.
In the event of a breakout, Carter sets aggressive price targets for XRP. The first goal is $0.93, a significant resistance level reached in July 2023. Carter’s optimism, supported by technical indicators, indicates the potential for XRP to surpass this barrier.