The price of Ripple is surging for the third consecutive day and analysts are already anticipating that this could be the beginning of a second bullish move that could propel its price to new heights. One crypto analyst in particular named Armando Pantoja has shared a thesis that sees the price moving to a range from $8 to $20 during this cycle as the network becomes the preferred choice for cross-border payments. Currently, sending money from one country to the other is expensive via traditional financial institutions. However, it can be done instantly with XRP. In addition, the launch of RLUSD – the new stablecoin issued by Ripple – opens up a new era for this blockchain as transaction costs via the ripple network is virtually zero. I'm predicting $XRP at $8-20 this cycle, but to dismiss it hitting $59.64 or even $100 eventually is short-sighted and overlooks the transformative potential of #XRP . pic.twitter.com/JSTSkfmyiM — Armando Pantoja (@_TallGuyTycoon) December 24, 2024 Pantoja speculates that the Bitcoin network’s natural limitations – which have been acknowledged by notable crypto supporters like Elon Musk – may give Ripple the chance to take over as the most efficient and robust blockchain for peer-to-peer (P2P) digital payments. So if Ripple were to substitute Bitcoin not as a store of value but as the ideal network for cross-border payments, its market cap could soon come close to where BTC’s is right now – which is $1.92 trillion. By dividing that market cap by the circulating supply of Ripple ($XRP) (57.41 billion tokens) that would give us a forecasted price of $33.44 for XRP that would imply 14x gains for investors at the current price of $2.41 per token. Some other tailwinds that favor Ripple’s progressive adoption as the preferred network for cross-border payments include its domicile. Being a US-based entity increases the company’s credibility as it will be regulated by top-notch institutions. In addition, Donald Trump’s victory in the November presidential election and the upcoming wave of pro-crypto legislators who will be taking a seat in Congress soon may result in the creation of comprehensive legislation for the sector shortly. All of these are short-term catalysts that could strengthen Ripple’s value proposition and the market seems to be responding positively to these changes as XRP delivered 238% gains last year. XRP Looks Set to Surge to a Fresh All-Time High The XRP chart looks promising after this 3-day winning streak as market participants once again showed up to buy the token once it hit the $1.95 support. This third touch of a price level affirms its importance and constitutes a powerful buy signal as a clear floor has been set for the asset. Meanwhile, the Relative Strength Index (RSI) has moved above the signal line, which is also typically interpreted as a buy signal. Trading volumes are spiking today following a huge day for XRP that ended with gains of 12%. These positive developments are all pointing to what could be the beginning of a new bullish cycle that may end up propelling the price of this cryptocurrency to and above the $3 mark shortly. XRP has already gained 10.7% in the past 10 days and has produced a positive 15.8% return since the start of the year. As legislative changes, rotation toward alt-coins, and other positive catalysts continue to unfold, XRP looks set to break through its latest all-time high in the near term. 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Don’t miss out on this chance to own a popular meme coin while it flies below whales’ radar. The post Analyst Predicts XRP Could Hit $8-$20 This Cycle – Could $100 Be Next? appeared first on Cryptonews .
