- An analyst has tipped XRP for a parabolic surge as the asset shows signs of repeating a historical movement triggered by the potential withdrawal of the lawsuit against Ripple by the SEC.
- The US president-elect, Donald Trump, is reported to have started accumulating XRP alongside HBAR and BTC.
A member of the Benzinga Crypto Advisory Board and renowned crypto investor Armando Pantoja has made a bold prediction for XRP, highlighting two main factors that could trigger unprecedented price growth in the upcoming alt-season.
Historical Price Trend
Speaking to his 52.1k followers, Pantoja highlighted the unexpected surge of XRP from $0.003 to an all-time high of $3.31 in the 2017-2018 cycle. According to him, the asset recorded a staggering growth of 110,000% within the period, turning a $1000 portfolio into $1.1 million in just a year. A similar movement from the current price of $2 could position XRP to $2,200.
Delving deep into this, we discovered that a TradingView analyst called “The Signalyst” subscribes to a similar projection. In his November 2024 analysis, this analyst pointed out that XRP is repeating a previous market move with patterns characterized by lower lows and a sharp bullish impulse.
Another analyst identified as EGRAG CRYPTO has outlined in a December 26 post that XRP could repeat a 50,000% price jump earlier recorded in 2017 as it crosses a 21 Exponential Moving Average (EMA) over a two-week time frame. Per his analysis, XRP could hit $27 if history repeats itself, representing a 4,770% surge from the current price, and 10% of the staggering growth recorded in 2017.
Analyzing the current price action, EGRAG CRYPTO observed that the next resistance level for XRP lies at $2.6. According to him, a decisive break above this level could position the asset towards $3.8 and beyond.
XRP Lawsuit Over
According to Pantoja, the potential end of the SEC vs Ripple case could be another factor that could propel the XRP price to a significant height.
Stop doubting $XRP:
XRP shocked the world in 2017, rising from $0.003 to $3.31 something critics said could “never happen”.
It surged 110,000%, turning $1,000 into $1.1 million in just 1 year.
Now the lawsuits soon over + Trump is coming. It’s time to shine #XRP pic.twitter.com/gXxtnG8nGJ— Armando Pantoja (@_TallGuyTycoon) December 28, 2024
Recently, one of the consistent critiques of Gary Gensler’s led SEC, Chris Giancarlo, disclosed in an interview that the Commission could drop the case against Ripple Labs under Donald Trump’s administration.
I think they should and will. I would bet they would…I would recommend that it’s time for regulatory agencies to drop a lot of these cases where they’ve lost at the trial court…Talent has left. What’s left are dead-enders, people that don’t want to come to the office.
Additionally, the founder of Morgan Creek Capital Management, Mark Yusko, recently disclosed that Trump and his son, Eric, have been engaging in aggressive accumulation of XRP together with Bitcoin (BTC) and Hedera (HBAR). Meanwhile, a renowned figure in the crypto space known on X, Shawn, has confirmed that Trump could be building a strategic national reserve of American cryptos such as XRP and HBAR, as recently reported by CNF.
According to him, the president-elect believes that supporting this group of “American commodities” could accelerate his plans of making the US the world’s crypto capital.
At press time, XRP was trading at $2.0 after declining by 4% in the last 24 hours and 3.8% in the last seven days.
Source: https://www.crypto-news-flash.com/all-eyes-on-xrp-expert-shares-two-reasons-for-optimism/?utm_source=rss&utm_medium=rss&utm_campaign=all-eyes-on-xrp-expert-shares-two-reasons-for-optimism