Following the abrupt drop in XRP's price from over $3.50 to $2.99 on July 23, many investors panicked. However, crypto strategist Armando Pantoja saw this as a buying opportunity.
Reaction to XRP Drop
Armando Pantoja commented on XRP's decline in a video, explaining why he decided to purchase the asset. He ties his strategy to Ripple's growing role in the banking sector and the long-term value he sees in XRP.
XRP's Prospects in Global Finance
Pantoja asserts that XRP can address significant issues in the global financial system, noting that approximately $26 trillion of worldwide funds sit idle while awaiting settlement through slow, outdated infrastructure. XRP enables transactions in under 3 seconds.
Ripple's Banking Strategy
Ripple's pursuit of a banking license underscores a significant pivot in the company's strategy. Obtaining a license would allow Ripple to integrate its technology more widely, offering regulated services and fostering institutional trust.
Armando Pantoja's position on XRP is based on the assumption of its growing significance and the opportunities that Ripple's potential banking license could bring.
