Renowned cryptocurrency influencer Ben Armstrong, popularly known as Bitboy, has expressed unwavering optimism for XRP, one of the leading digital assets, despite the possibility of an appeal by the US Securities and Exchange Commission (SEC).
Recent developments such as XRP being relisted on exchanges have strengthened Bitboy’s positive outlook, which he believes will persist throughout the crypto bull run.
Read Also: BitBoy’s Suggested Amount Required to Become XRP Millionaire Implies a $6.7 Price Rally
Relisting on Exchanges: A Key Reason for Optimism
Ben Armstrong’s (Bitboy) confidence in the bullish future of XRP is not solely based on the appeal timeline presented by pro-XRP lawyer John Deaton, who estimated it could take up to two years for a decision to be made. Instead, Bitboy emphasizes the relisting of XRP on various exchanges as evidence of the community’s resilience and lack of fear in the face of legal proceedings.
This means bullish through the bull run no matter what. $XRP has been relisted on exchanges and no one is scared https://t.co/9DtMGzypeD
— Ben Armstrong (@Bitboy_Crypto) July 24, 2023
The recent court ruling declaring XRP as not a security has allowed the digital asset to make a comeback on US-based exchanges and beyond, reported The Crypto Basic earlier this month. This reinstatement adds credence to Bitboy’s bullish stance and resonates with many XRP supporters who see a bright future for the token.
XRP’s Future Debated among Influencers and Users
Crypto Asset Guy, a renowned XRP influencer, responded to Bitboy’s tweet, expressing his belief that XRP will achieve a new all-time high in the fourth quarter of the year. This sentiment aligns with the positive projections shared by Bitboy and highlights the hope held by fervent XRP proponents.
Additionally, Scott Melker, a prominent crypto influencer known for his support of Bitcoin, stated in a recent report that even if the SEC decides to appeal the XRP victory and obtain a decision, XRP will maintain its non-security status for at least two years. Melker’s opinion further signals a favorable outlook for XRP in the medium term, bolstering Bitboy’s positivity.
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— TimesTabloid (@TimesTabloid1) July 15, 2023
Potential Hesitance Among Institutions for XRP
While Bitboy and other XRP enthusiasts express unwavering belief in the token’s future, some cautious voices highlight potential concerns. A Twitter user raised the concern that institutions and investors might hesitate to fully commit to XRP due to the looming court case that could span the next two years.
The user emphasized that crucial decision-makers, such as company accountants and lawyers, might exercise caution before approving investments in XRP on behalf of their represented firms.
Read Also: XRP Massive Pump Not Without Reason, Says BitBoy. Here are the Catalysts
In response to these concerns, John Deaton, the pro-XRP attorney, pointed out that major US-based crypto exchanges would not have relisted XRP if such cautionary measures were warranted. However, Deaton acknowledged that banks might adopt a more conservative approach, possibly leading to hesitance in their engagement with XRP.
Despite the differing opinions, Bitboy’s unwavering bullishness on XRP remains unchanged. The evolving situation surrounding XRP’s regulatory status continues to captivate the crypto community, and investors eagerly await further developments to shape the future of this prominent digital asset.
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