Crypto analyst Armando Pantoja has an optimistic outlook for XRP, despite the legal challenges faced by Ripple. Pantoja predicts that XRP will experience a bullish price action, with the coin potentially surging to $8 to $20 by 2026. This forecast implies a growth of 3,557.6% from current levels. Pantoja bases his optimism on historical precedents, institutional adoption, and strategic partnerships established by Ripple.
Institutional adoption remains a significant catalyst for the potential growth of XRP. Ripple has successfully integrated its technology into major financial institutions such as Bank of America and the Royal Bank of Canada. Partnerships with HashKey DX and SBI Ripple Asia have also added value to XRP in the digital asset sphere. These developments indicate that XRP is gaining acceptance and usage in traditional finance systems.
Ripple is actively working to improve the XRP Ledger (XRPL) through initiatives like the XLS-68d specification. These technological enhancements are crucial for increasing XRP’s usability and attractiveness in the digital economy. Additionally, the resolution of the pending lawsuit with the SEC is essential for the growth of XRP. Ripple’s strong opposition to the accusations and the expected positive outcome have instilled hope among investors and supporters.
While Pantoja’s bullish forecast paints a promising future for XRP, short-term market analysis suggests potential downside pressure. Technical indicators indicate that the asset may face further declines, targeting key support levels.
Renowned analyst Jonathan Carter has also provided an intriguing forecast for XRP. Carter highlights a multi-year symmetrical triangle pattern in the XRP price chart, suggesting a possible major breakout in the near future. This pattern represents a consolidation phase, indicating a balance between buying and selling forces. According to Carter, the recent retest of the lower trendline after a decline in April hints at the emergence of buying pressure.
Carter sets aggressive price targets for XRP in the event of a breakout. The first goal is $0.93, an important resistance level reached in July 2023. Carter’s optimism, supported by technical indicators, suggests renewed potential for XRP to surpass this barrier.