XRP, now the 3rd largest cryptocurrency by market valuation, traded in rocket mode for most of Monday following a strong recovery on Sunday. This came after a dip earlier in the week when the price briefly fell to around $1.30, as investors took profits from the recent rally. Despite these short-term fluctuations, XRP has demonstrated impressive resilience, surging more than 275% over the past month and solidifying its position as one of the leading cryptocurrencies. As a result, analysts are growing increasingly bullish on the asset’s long-term outlook. In a tweet, analyst Armando Pantoja expressed his optimism, stating, “$XRP to $2 isn’t even a question. $8-20 is inevitable,” and pointing to several factors driving his bullish sentiment. First, Pantoja pointed to bullish chart patterns indicating a long-term upward trend, sharing an XRP chart highlighting the recent breakout from a seven-year consolidation pennant, with price returning to retest a critical support-resistance level. He also emphasized the notable whale activity, with these investors steadily accumulating XRP at current price levels. According to data from Santiment, over the past weekend alone, these major investors purchased more than 50 million XRP tokens, positioning themselves strategically ahead of what many expect could be a major price surge. The pundit also mentioned favorable technical indicators, such as the MACD cooling off and the RSI reaching a neutral level, suggesting a potential breakout. “ FOMO incoming, sentiment flipping,” he added, suggesting that a surge in retail interest is likely to drive the price higher. Pantoja’s bullish outlook echoes the sentiments of Bitcoin maximalist MMCrypto, who, despite previously dismissing XRP , now acknowledges its potential for a significant price rally. In a recent tweet to his 1.5 million followers, MMCrypto noted , “If you zoom out 4 years for $XRP,” signaling his expectation that the token could surpass $4 in the coming weeks after its breakout from the long-standing pennant pattern. Beyond technical analysis, XRP’s price had long been constrained by the protracted SEC lawsuit. However, a recent landmark court ruling in Ripple’s favor, declaring XRP is not a security, has removed a significant regulatory obstacle, opening doors for broader adoption. Notably, other recent crypto-related legal victories, such as this week’s ruling in favor of Tornado Cash against regulators attempting to classify its activities as illegal. Investors interpret this decision as a clear message that regulators like the SEC lack the authority to enforce rules in areas where Congress has not enacted specific legislation. This precedent could influence future rulings in cases like XRP’s, potentially leading to more favorable outcomes for Ripple and its investors. Adding to this bullish sentiment is the potential for XRP ETF approvals, with recent filings from notable issuers such as WisdomTree , Bitwise, Canary Capital, and 21Shares. The introduction of an XRP ETF would significantly enhance the asset’s credibility among institutional investors, potentially driving substantial capital inflows and accelerating its growth trajectory. XRP traded at $2.7 at press time, reflecting a 25.12% gain over the past 24 hours.
