- Armando Pantoja’s bullish prediction for XRP at $10 to $20 draws parallels to Bitcoin’s historic surge from $310 to $19,188 between 2015 and 2017.
- Despite optimism from Pantoja and others, skepticism persists among some investors and analysts regarding XRP’s potential for a parabolic rally.
As Ripple’s native cryptocurrency, XRP shows strength moving past $0.61, investors have turned bullish on the future prospects for the altcoin. In one such mega-bullish prediction, prominent bitcoin investor Armando Pantoja suggested that predictions of XRP reaching $5 during this bullish period are too conservative, advocating for a higher range between $10 and $20.
Pantoja made these assertions in a recent post on X, where he challenged the forecasts of a $5 target for XRP. He argued that such projections significantly undervalue XRP’s potential within the cryptocurrency market. He said that the $5 projection for XRP is like predicting a $1,000 price cap for Bitcoin back in 2015.
There people saying #XRP will reach $5 are significantly underestimating.
This is similar to predicting #Bitcoin would cap at $1,000 in 2015. XRP is on a trajectory akin to Bitcoin’s in 2015, with a rapidly growing network effect.$XRP prediction: $10-$20. Thoughts?
— Armando Pantoja (@_TallGuyTycoon) April 6, 2024
In 2015, Bitcoin started at $310 and by December 2017, it had surged by an astonishing 6,000% to reach approximately $19,188.
Drawing parallels to Bitcoin’s early trajectory, Armando Pantoja expressed confidence that XRP is heading for significant growth. He predicted that XRP could attain price levels of $10 and $20, akin to Bitcoin’s remarkable rise.
With XRP currently priced at $0.5896, achieving Pantoja’s ambitious targets would necessitate a staggering 3,300% price increase. Pantoja expects this forecast to materialize during the anticipated altcoin season following Bitcoin’s halving event.
Interestingly, other market commentators have also shared Pantoja’s outlook. Nick, the founder of Web3Alert, concurred that viewing $5 as a conservative target for XRP during this bullish period is reasonable. He believes that XRP could potentially surge by 15-fold to surpass $10.
Contradictory Views on XRP Price Surge
Jorge Pineda, a user on X, has raised doubts about the feasibility of XRP reaching the projected $20 mark. Pineda, who was previously a staunch supporter of XRP, has shifted his stance due to concerns about the cryptocurrency’s potential.
Pineda emphasized the close relationship between XRP’s value and the development activity on the XRP Ledger (XRPL). He pointed out a trend where several significant projects associated with XRPL are departing the blockchain, leading to his skepticism about XRP’s ability to achieve high values, as reported by Crypto News Flash.
In a similar vein, analyst Jee Wiz expressed skepticism about XRP surpassing $7.3, even when considering Fibonacci levels. Wiz suggested that a more realistic estimation would be around $5. Additionally, some commenters argued that XRP should first reclaim the $1 mark before entertaining discussions about reaching higher price targets.
However, the positive developments on-chain include that the XRP trading volumes have surged by 75% recently, per the Crypto News Flash report. This would push the XRP price even higher to its immediate target of $1 on the upside.
Over the last weekend, Ripple CEO Brad Garlinghouse stated that he expects the broader crypto market to double to a $5 trillion valuation by the year’s end. However, he refrained from commenting on any specific price target for XRP.
