Armando Pantoja, known for his cryptocurrency analysis, made a surprising price prediction for Ripple (XRP).
XRP is trading at $0.654, up 8% in the last 24 hours, and its market value is now $37 billion. XRPIts daily transaction volume tripled to over $12 billion. Additionally, the popular altcoin overtook USDC in terms of market capitalization to rank seventh. According to Santiment, XRPOne of the most important factors in the breakout above the $0.74 level is investors’ fear of missing out (FOMO).
So, what level did famous cryptocurrency analyst Armando Pantoja target for XRP?
The Donald Trump effect has fueled FOMO in Ripple (XRP).
The rise of XRP, the winner of the US presidential election Donald Trump’s associated with. President-elect Trump had promised to fire Gary Gensler, chairman of the US Securities and Exchange Commission (SEC).
The end of the SEC’s legal battle against Ripple with a crypto-friendly chairman seems to have sparked a wave of FOMO among XRP-backing investors. In addition, Trump is considering replacing Gensler with Dan Gallagher, Robinhood’s chief legal officer, as SEC chairman.
Can go up to $30!
Citing XRP’s technical structure, Armando Pantoja expressed a price prediction that excited investors. According to the analyst, the formation of a “Symmetrical Triangle Formation” on the chart indicates a big rally for XRP. Noting that XRP exceeded $3 when this structure was last seen, Pantoja sees prices below $1 as an opportunity. According to Pantoja, a congruent triangle formation, MACD indicator and increased trading volume are indicative of a move towards $8-30.
This article does not contain investment advice or recommendations. Every investment and trading venture involves risk, and readers should do their own research when making decisions.
