thecryptobasic.com
Armando Pantoja, a renowned crypto investor and market expert, has expressed confidence that $XRP could eventually reach a four-digit price.
Pantoja discussed this in one of his recent $XRP commentaries amid the latest market correction that has halted $XRP’s uptrend. For context, after $XRP surged over 60% to the $3.66 yearly peak, it faced a roadblock and has since pulled back to $3.00, as the broader market corrects.
Expert Suggests $XRP Could Still Hit $1,000
Despite this momentary setback, market experts like Armando Pantoja remain confident in $XRP’s long-term potential. In his recent commentary, Pantoja suggested that $XRP will “definitely” reach the ambitious $1,000 mark. This disclosure was an effort to express his unwavering optimism in $XRP despite short-term fluctuations.
How Long Could It Take $XRP to Hit $1,000?
For context, Bitcoin first reached $1,000 in November 2013, when it soared to a new all-time high of $1,163. Essentially, BTC claimed this lofty milestone four years after it started trading. However, it lost the $1,000 mark immediately after and battled to reclaim it over the following years.
Notably, Bitcoin only decisively conquered the $1,000 region in Q1 2017, eight years after its launch. Accordingly, Pantoja’s commentary recognized this timeline instead, leveraging it to argue for $XRP’s inability to claim the price mark.
Nonetheless, even relying on this 8-year timeline puts $XRP behind by five years, as it is now 13 years in the market and still hasn’t reached $1,000. To justify this, Pantoja pointed to the SEC lawsuit, which began in December 2020 and seems to be close to a definite end.
According to Pantoja, this lawsuit set $XRP’s trajectory back, and with the end edging closer, it’s now as if $XRP is starting afresh. As a result, he chose to give $XRP the same 8-year timeline it took Bitcoin to reach $1,000.
Despite the possible timeline, Pantoja argued that waiting for about 10 years to witness a massive 33,233% return is worth it. This would put the timeline at 2033 to 2035. Interestingly, with $XRP now trading at $3.16, it has gained further to reduce the required uptrend necessary to hit $1,000 to about 31,545%.