Crypto character Ben Armstrong, also referred to as BitBoy, has asserted that XRP might be the top-performing crypto asset of this cycle.
BitBoy expressed this view through his X account on Thursday, citing two key elements supporting his daring forecast for XRP.
Components to Make XRP a High Performer this Cycle
First, he emphasised the potential game-changing affect of the Bitwise XRP ETF at the moment in growth. Notably, this distinguished asset supervisor submitted an application on Wednesday to checklist an XRP ETF with the U.S. regulator.
BitBoy burdened that this XRP ETF might be the most important turning level the neighborhood has lengthy awaited. In accordance to him, those that aren’t paying consideration to XRP now will quickly take discover as the results of the XRP ETF start to unfold.
Bitwise XRP ETF within the works —this might be the sport changer we have been ready for. In the event you’re not paying consideration to XRP now, you may be quickly.
— BitBoy (@BenArmstrongsX) October 3, 2024
Moreover, Armstrong is banking on Ripple’s plans to go public through an IPO as one other main bullish consider XRP’s potential this cycle. The view is that Ripple turning into a public firm would promote XRP—an asset carefully related to Ripple—to a bigger pool of buyers.
Some business pundits argue that Ripple’s IPO alone might drive XRP’s market worth as excessive as $10 within the close to future. Nevertheless, it is vital to notice that Ripple has acknowledged going public is not an immediate priority.
Furthermore, Ripple’s lawsuit with the SEC is resuming, because the regulator issued a discover for an enchantment, additional delaying the prospect of an IPO
Apparently, the SEC’s movement to enchantment got here only a day after Bitwise launched its utility for the XRP ETF. Some on-line commentators have advised that the SEC’s action has weakened the probabilities of approval for the XRP ETF, although proponents of the ETF disagree with this view.
Whatever the hindering developments, Armstrong stays optimistic, believing that approval of the XRP ETF and Ripple’s IPO might make XRP the best-performing token of this cycle.
First: $XRP: It is set to dominate world banking. ETF approval and Ripple IPO might make XRP the #1 coin of this cycle.
— BitBoy (@BenArmstrongsX) October 3, 2024
XRP Historic Efficiency
Traditionally, within the 2017/2018 cycle, XRP was one of many best-performing crypto belongings, delivering a staggering return of (*1*) to buyers in only one yr.
Nevertheless, within the present cycle, XRP is among the many worst-performing tokens. Proponents are hopeful that these essential impending developments will function the catalyst that drives XRP to new heights.
Disclaimer: This content material is informational and shouldn’t be thought of monetary recommendation. The views expressed on this article could embody the creator’s private opinions and don’t mirror The Crypto Primary’s opinion. Readers are inspired to do thorough analysis earlier than making any funding selections. The Crypto Primary is not answerable for any monetary losses.