Amid the ongoing crypto bull market, XRP has shown stagnancy, maintaining a price range of around $0.52. Conversely, Bitcoin, the flagship cryptocurrency has exhibited impressive movement, surging as high as $72,500 earlier today and gradually approaching its all-time high of $73k reached earlier this month. At the time of writing, BTC traded at $71,840, indicating a 0.62% decline in the last 24 hours,
The sluggish movement of XRP has raised concerns among investors who worry about the future outlook of the coin. Meanwhile, a prominent crypto proponent, Ben Armstrong, popularly known as Bitboy, has reiterated his confidence in the Ripple-backed token, stressing that the coin is poised for a staggering upward trajectory that would shoot its price up to $10. While this seems like an over-ambitious prediction, Bitboy backed his forecast with the recently clarified status of XRP.
He noted in a recent post on X, that XRP is no longer the center of attention in the Ripple vs. SEC case. While XRP was affected by the litigation in the previous bull run, Bitboy emphasized the situation has changed. Before the regulatory clarity, investors were shying away from investing in the token, however, with the recent court’s ruling, Bitboy stressed that there are no more regulatory constraints that could affect the growth trajectory of the coin.
Moreover, Bitboy posited that another driving force for XRP would be its growing institutional interest. With the clear regulatory path, Bitboy stressed that XRP is now “the chosen institutional vehicle,” insinuating that this category of investors will now have confidence in investing in XRP without fear of legal consequences.
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While Bitboy did not disclose the timeline for this occurrence, other analysts have forecasted that XRP’s breakthrough will come in 2025. Meanwhile, another expert linked XRP’s bull run to Bitcoin’s dominance. According to him, the XRP bull cycle will kick off when Bitcoin’s dominance declines significantly, citing historical patterns from 2017 and 2021.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.