- XRP shows similarities to its 2017 rally, with potential for substantial gains.
- Analyst Armando Pantoja expects XRP to reach $25 by 2025.
- Broader crypto ETF acceptance, Ripple’s stablecoin, and utility expansion contribute to XRP’s prospects.
XRP is showing signs of repeating its 2017 price movement. According to Armando Pantoja, the price will likely reach $25 by 2025. Pantoja suggests that the strong support, oversold RSI, and rising volume position XRP to rally to $20 by 2025.
$XRP is mirroring its 2017 consolidation and breakout pattern.
— Armando Pantoja (@_TallGuyTycoon) July 9, 2024
With strong support, rising volume, and oversold RSI, a $20 target by 2025 is all but certain. History will repeat!#XRP #Ripple pic.twitter.com/J1L3iqSqak
Back in 2017, XRP experienced a phenomenal surge, rising by an astonishing 63,000%. Meanwhile, XRP has been struggling to rally above $0.50. Many analysts suggest that XRP is in the accumulation phase preparing for a meteoric ascent.
On the other hand, some analysts suggest that the catalyst for a price surge will be found when the SEC’s lawsuit against Ripple is resolved. The broader acceptance of crypto ETFs and the introduction of Ripple’s stablecoin could also be potential growth drivers. Additionally, Ripple has been making significant strides in expanding its utility and partnerships.
The company’s efforts to enhance cross-border payment solutions and its collaborations with major financial institutions are creating a solid foundation for XRP’s prospects. These factors combined with the overall bullish sentiment in the cryptocurrency market adds to the speculation that XRP might be gearing up for a substantial rally.
Historically, the trajectory of the general cryptocurrency market is typically determined by the price movement of Bitcoin. Analysts anticipate the price of BTC to soar soon and pave the way for altcoins to follow suit.
Moreover, the technological advancements and regulatory clarity that have developed since 2017 provide a more robust framework for cryptocurrencies like XRP to thrive. The stage could be set for XRP to reach new heights if these conditions persist and if Ripple successfully navigates the current legal hurdles.
Read Also
The post XRP Mirrors its 2017 Consolidation and Breakout Pattern, New ATH Soon? appeared first on Crypto News Land.