In October 2023, XRP may reach a critical point, as analyzed by expert Armando Pantoja, known as Tall Guy Tycoon.
Critical Moment for XRP
Armando Pantoja recently stated in a video that the window between October 18 and 25 is potentially decisive for XRP. During this time, the SEC will review seven XRP-related filings, which Pantoja believes could change the cryptocurrency's standing in the market.
ETF Approval Probabilities
Pantoja mentioned that PolyMark estimates the likelihood of XRP ETF approval at 95%, which is very favorable. He compared this situation to Bitcoin, which rose by 52% after its own ETF approval. This may suggest a similar trajectory for XRP.
Retail Participation and Market Potential
Pantoja highlighted a significant increase in XRP futures, with open interest climbing by 74%. This indicates that institutional investors are positioning themselves for potential significant developments. He also noted that XRP's previous rise from $0.50 to nearly $4 occurred with low trading volumes from retail investors, indicating untapped potential if retail participation increases. Pantoja targets XRP in the current cycle between $8 and $12.
Pantoja emphasizes that the current regulatory climate, institutional signals, and market conditions set XRP up for a critical period in October.
