Altcoins
Potential 650x Rise in XRP Price – Examining if $20 is the Altcoin’s Next Target
- XRP would hit the $20 mark by 2026 amid ongoing legal issues with the SEC.
- The analysis suggests continued downward pressure on prices, with metrics showing increased interest.
Ripple [XRP]a leading cryptocurrency, has faced significant challenges due to an ongoing lawsuit with the United States Securities and Exchange Commission.
So far, the asset has seen a drastic 84.7% decline from its all-time high of $3.40 in 2018 and has yet to recover a fraction of its peak value.
This steady price decline has continued: over the past 30 days, the value of XRP has fallen by almost 20%.
Although there was an uptick last week, the cryptocurrency has started to lose those gains, currently showing a 2.3% decline over the past 24 hours.
However, despite the downward pressure, one analyst predicted that XRP has a bright future.
An optimistic argument for XRP
Armando Pantoja, a renowned crypto analyst, remains optimistic about the potential of XRP, estimating that its value will reach between $8 and $20 by 2026.
This projection implies a dramatic increase of up to 3,557.6% from its current levels.
Pantoja cites reasons why this increase might be possible, citing the 2017 bull run, where XRP increased more than 650 times to reach its peak, as a “historic powerhouse” for such growth.
Institutional adoption is an important factor for the future price of XRP. So far, Ripple, the company behind XRP, has seen significant integration into major financial institutions like Bank of America and Royal Bank of Canada.
Additionally, Ripple’s recent partnership with HashKey DX to introduce XRP Ledger-based solutions in Japan, and collaboration with SBI Ripple Asia, could propel the price of XRP upwards.
Despite these adoptions, efforts are still being made to expedite other adoptions.
For example, RippleX, the development arm of Ripple, has introduced significant upgrades to the XRP Ledger (XRPL), such as the XLS-68d specification.
This improvement allows platforms to cover transaction fees for others without distributing free XRP, thereby simplifying the onboarding process.
These developments are key to broadening the appeal and utility of XRP in the digital economy.
In addition to institutional adoption, Pantoja highlights the influence of market trends and the growing utility of financial services.
He predicts that XRP will soon achieve legal clarity and see a significant expansion of partnerships.
Regarding legal developments with Ripple and the U.S. Securities and Exchange Commission (SEC), tensions escalated in March when the SEC sought a substantial $2 billion fine against Ripple for alleged violations related to institutional sales of XRP.
Ripple has refuted these allegations, with chief legal officer Stuart Alderoty presenting the company’s detailed rebuttal last week.
Ripple’s defense disputes the SEC’s claims and suggests a much lower fine, ideally less than $10 million.
Reports You should know that the American SEC has filed its final response to the opposition fine, but the documents are under seal and are not yet accessible to the public.
As the trial nears its final stages, the crypto community is closely watching the outcome and whether XRP can surpass its previous highs and potentially reach double digits.
The possible short-term movement of XRP
Meanwhile, technical analysis indicates that XRP may continue to face downward pressure in the near term.
The asset has consistently broken its structure on the daily and 4-hour charts, recently capturing liquidity and now targeting the low near $0.48.
Source: TradingView
This bearish short-term outlook is reinforced by a recent report from AMBCrypto, which notes that the Chaikin money flow for XRP was at zeroindicating that there is no significant inflow of capital into the market.
Realistic or not, here is Market capitalization of XRP in BTC terms
However, despite these bearish indicators, data de Santiment shows an increase in metrics such as social dominance, total holders and active addresses for XRP.
This suggests that many community members remain optimistic and confident about the future of this asset.
Source: Santiment