BitBoy and Market Trends Unveiling XRPs Journey towards 10
As the market continues its upward trend, Bitcoin is on the verge of breaking its all-time high records. In the midst of this bullish market sentiment, Ben Armstrong, also known as BitBoy, has emphasized that XRP will reach $10 no matter what.
While XRP has remained stable around $0.5200, trading in the same range as it was a week ago, Bitcoin has surged over 9% in the past week and is poised to reclaim its seven-month high of $73,000. This surge has propelled the overall market to nearly $2.5 trillion.
Despite Bitcoin’s gains, XRP has not seen significant growth or decline. This has left XRP holders disappointed. However, community members like Ben Armstrong (BitBoy) and Edoardo Farina have reassured XRP investors that the bull case for XRP remains intact.
In a recent post shared by Edward Farina, BitBoy boldly claimed that XRP would reach a price of $10 “no matter what.” It’s worth noting that this represents a significant growth of 1,806% from XRP’s current price of $0.5245, potentially setting a new all-time high.
BitBoy points out that XRP is no longer affected by the ongoing SEC Ripple case, which has recently entered the appeal phase. While the SEC case influenced XRP’s trajectory in the previous bull run, BitBoy believes it is no longer a factor.
Investors were initially hesitant to enter the XRP market due to the SEC’s initial classification of the asset as a security. This led many to believe that XRP would never recover. However, with the court ruling that XRP is not a security, BitBoy believes there are no longer regulatory constraints that could hinder XRP’s growth.
“The case is over. It doesn’t matter if there’s an appeal,” he emphasized. Furthermore, he argues that with a clear regulatory path, “XRP is the chosen institutional vehicle.” This implies that wealthy investors would feel confident investing in XRP without fear of legal implications.
In a separate tweet, Farina mentions that XRP won’t reach $10 in one go. He believes that it will first approach $10, then experience an “instant dump” to around $5. According to Farina, this drop would shake out retail investors and potentially create a supply shock before bouncing back aggressively.
Armstrong also asserts that XRP will outperform both Bitcoin and Ethereum, particularly surpassing Ethereum. He had previously stated that XRP would overtake Ethereum to become the second-largest cryptocurrency, with a price target between $16 and $22.
He attributes XRP’s potential rise to its unique role in the market, specifically in cross-border liquidity. He highlights that XRP has previously surpassed Ethereum and that the current market dynamics favor XRP for significant growth, supported by factors such as banking partnerships and potential ETFs.