Original source WeChat public account: Chen Bailan Bu Bailan.
Renowned Analyst Armando Pantoja, an IBM Blockchain Award winner and a member of the Benzinga Cryptos Advisory Council, urged investors to stop doubting XRP amid widespread market uncertainty.
Is an explosive run coming soon?
In a recent post on X, this Analyst urged investors to stop doubting XRP and shared several reasons why he believes XRP is about to explode. At the time of these remarks, XRP had risen 284% in November, and currently, its bullish trend has slowed amidst the continued integration in the broader cryptos market.
Although many experts are optimistic that XRP may soon resume its upward trend, the current Range volatility phase has raised uncertainty among investors, leading to profit-taking trades. According to recent data, Binance's XRP Exchange reserves have surged from 2.79 billion tokens on December 16 to currently 2.93 billion tokens.
The increase in Binance's Exchange reserves indicates that market participants are depositing Assets into the platform for sale. Nevertheless, Pantoja still urged investors not to doubt XRP any longer.
Where does this uncertainty come from?
The huge uncertainty surrounding XRP has become apparent as it underperformed during the 2021 bull market and the early stages of the current bull market. Even market veteran Raoul Pal has warned that XRP investors may miss out on the current bull market and suggested seeking returns elsewhere.
After Trump's victory in the USA election, XRP performed well, but pessimism returned. Nevertheless, some Analysts predict that XRP will reach higher targets, such as the $27 mark and an ambitious $33 price level, although many consider these predictions unrealistic.
However, despite some believing that XRP's upward momentum may have been exhausted, Pantoja remains optimistic, pointing out that the explosive growth of altcoins during the 2017/2018 cycle is the main reason for his optimism. Notably, XRP traded as low as $0.003 in January 2017, while other Assets skyrocketed at the start of the bull market.
Will XRP surpass the market?
Surprisingly, once it surged, XRP outperformed other markets, rising from a low of $0.003 to a historical high of $3.31 in January 2018. This marked explosive growth of 110,233% within a year. Pantoja noted that with this rebound, XRP went from $1,000 to $1.1 million.
The historic uptrend highlights XRP's potential, which now bolsters the confidence of Analysts. He also pointed out other catalysts that could lead to a similar explosive surge, such as the potential end of the SEC vs Ripple case and new leadership supporting Cryptos expected in January 2025.
Trump has pledged to establish a more crypto-friendly government, expected to take office in January 2025, which would trigger another market rebound. As of press time, XRP's current Fill Price is $2.16; despite ongoing volatility, it has still risen 10.71% in December.