Expert analyst Armando Pantoja is urging investors to put aside their skepticism about XRP and focus on the asset’s potential. Pantoja believes that XRP could make a strong upward move in the near future, and he bases his prediction on a number of important factors.
After an impressive 284% rally in November, XRP is currently experiencing a period of stagnation due to market consolidation. According to Binance data, XRP reserves on the exchange increased from 2.79 billion tokens to 2.93 billion tokens on December 16. This increase is interpreted by some investors as investors preparing to sell their assets.
XRP’s past price movements show similar cycles. During the 2017/2018 bull run, XRP saw an incredible 110,233% increase, from $0.003 in January 2017 to $3.31 in January 2018. This historic rise clearly demonstrates XRP’s potential and role in the market.
Some analysts set target prices for XRP at $27 or even $33. However, in order to reach these levels, XRP needs to overcome critical technical resistances and investor confidence needs to increase. XRP, which increased by 10.71% in December, is currently trading at $2.16. This performance, unlike many major crypto assets, shows a positive outlook.
The future of XRP will depend on the outcome of the SEC case, political developments in the US, and the dynamics of the overall crypto market. It is of great importance for investors to carefully monitor technical levels and market conditions and determine their strategies accordingly. The path XRP will follow can be a critical indicator for the crypto market.