Armando Pantoja, a well-known analyst and recipient of an IBM blockchain award, as well as a member of the Benzinga crypto advisory board, has recently encouraged investors to have faith in XRP amid the current market uncertainty surrounding the token.
In a recent post, Pantoja has emphasized the potential for an explosive run for XRP in the near future. Despite experiencing a slowdown in its bullish trend after a 284% rally in November, XRP is now consolidating in the broader crypto market. Pantoja’s confidence in XRP’s future performance stems from several reasons that he has shared with investors.
One of the reasons for the uncertainty surrounding XRP is its underperformance during the 2021 bull run and the early stages of the ongoing bull market. Market veteran Raoul Pal has even cautioned XRP investors that they may miss out on the current bull run if they do not seek gains elsewhere. Moreover, skepticism around XRP has resurfaced following its impressive performance after a Trump win in the US elections.
Despite some analysts predicting high price targets for XRP, such as $27 and even $33, many consider these projections to be overly optimistic. However, Pantoja remains bullish on XRP, citing its explosive run during the 2017/2018 cycle as a key reason for his optimism. XRP’s remarkable rally from $0.003 to $3.31 within a year showcased its potential, transforming a $1,000 investment into $1.1 million.
Pantoja believes that XRP could outperform the market once again, especially with potential catalysts like the resolution of the SEC vs. Ripple lawsuit and the anticipated pro-crypto leadership under Trump’s administration in January 2025. Trump has pledged to establish a more crypto-friendly environment, which could trigger another market rally upon his inauguration.
Despite ongoing volatility, XRP is currently trading at $2.16, reflecting a 10.71% increase in December. Investors are advised to consider Pantoja’s insights and to have faith in XRP’s potential for an explosive run in the near future.