thecryptobasic.com
Armando Pantoja, a notable Bitcoin investor, has argued that projections of XRP reaching $5 this bull season are an underestimation, asserting a price point between $10 and $20.
$5 Projection is Underestimation
Pantoja made this bold claim in a recent post on X, challenging those who forecast a $5 target for XRP. He asserted that such a target grossly underestimates the potential of XRP in the crypto scene. He likened the $5 projection to forecasting a $1,000 cap price for Bitcoin 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
Notably, Bitcoin opened in 2015 with $310. By December 2017, it has already skyrocketed by 6,000% to a peak of around $19,188.
Pantoja voiced confidence that XRP is following a trajectory similar to Bitcoin’s early days in 2015, implying substantial growth potential for the cryptocurrency. In accordance with his perspective, he forecasted that XRP would reach price levels of $10 and $20.
With XRP at $0.5896, reaching Pantoja’s ambitious target of $20 demands a 3,300% price growth. Pantoja anticipates that this price forecast for XRP will come to fruition during the anticipated altcoin season following Bitcoin’s halving.
Interstingly, Pantoja is not the only market commentator who has argued that $5 is a conservative target for XRP in this bull season. Nick, the founder of Web3Alert, similarly asserted that expecting XRP to rally by 15-fold to over $10 is not crazy thinking.
Opposing Views
Meanwhile, X user Jorge Pineda challenged the validity of the $20 projection. Pineda expressed skepticism about XRP reaching such high values, noting a shift in his perspective from being a staunch XRP supporter in the past.
Pineda highlighted that the value of XRP is closely tied to the development activity on the XRP Ledger (XRPL). However, he is observing a trend in which many significant projects on the XRPL are departing the blockchain.
Similarly, analyst Jee Wiz remarked that, even when considering Fibonacci levels, surpassing $7.3 for XRP seems highly challenging. Wiz suggested that $5 appears to be a more realistic estimation from his perspective.
Besides, some commenters advocated for XRP to at least reclaim the $1 mark before entertaining discussions about higher price targets.
Nonetheless, a few commenters aligned with Pantoja’s perspective, agreeing that XRP could indeed reach $20.