XRP is about to pump to $20? Decipher the potential 650x surge and what it means

Ripples of uncertainty continue to revolve around the Crypto Assets XRP created by Ripple Labs. The once-glamorous XRP has big dump in price amid a protracted legal battle with the US SEC (SEC). But even as the clouds loom, some analysts see a glimmer of hope, predicting a surge in digital assets in the future.

The SEC filed a lawsuit in December 2020 alleging that the alt is an unregistered security. If this classification is maintained, it could severely limit the trading of XRP and diminish its value. The legal dispute took its toll, and its price falls 85% from its peak of $3.41 in 2018. Recent months have not provided much long respite, with XRP fall drop of almost 18% in the last month alone.

Technical analysis, a method of predicting price movements based on historical data, paints a worrying picture of XRP's near-term outlook. Analysts note that recent price charts show that downward pressure persists.

Despite the current resistance, some analysts remain optimistic about the Token's long-term prospects. Respected Crypto Assets analyst Armando Pantoja believes that XRP has the potential to reach $8 to $20 by 2026. This would be a significant pump of 3,558% from current prices.

Pantoha's bullish forecast is based on several factors. He referred to XRP's historical performance, highlighting its meteoric rise in 2017, when its peak soared longest 650 times. Pantoha said this sets a precedent for future rise.

Another cause for optimism is Ripple's growing partnerships with established financial institutions. Integrations with giants such as Bank of America and Royal Bank of Canada can significantly increase the value of altcoins by increasing their utility and mainstream adoption. Recent collaborations with HashKey DX and SBI Ripple Asia have further boosted institutional acceptance and could pump XRP prices.

Ripple is not idle either. Through its development arm, RippleX, the company has made a key upgrade to XRP Ledger (XRPL), support XRP's technology. Notably, the XLS-68d specification allows the platform to pay Money Laundering for users without having to distribute free hard coins. This simplifies the onboarding process and can attract new users to the XRP ecosystem.

Pantoja also highlighted broader market trends that could benefit XRP. The rising demand for efficient financial services could create a perfect storm for XRP adoption. In addition, Pantoja expects a legal victory for Ripple, paving the way for further cooperation and market expansion.

The XRP community itself seems to echo this optimism. Social media engagement around altcoins has surged, with the total number of holders and the number of active Addresses continuing to increase. This shows that despite the current challenges, Xu long investors remain confident in the long-term potential of XRP.

(Source: Christian Encila)