Ben Armstrong, popularly known as Bitboy Crypto, recently made a bold claim that XRP could be the cryptocurrency with the most impressive performance during the current bull run. This assertion comes despite XRP’s underwhelming performance in recent months. So, why is Armstrong so bullish on XRP’s potential?
Real-World Asset Tokenization
Armstrong’s primary rationale hinges on the burgeoning real-world asset (RWA) tokenization market. This market segment involves converting ownership of real-world assets into digital tokens on a blockchain. Experts predict the RWA tokenization market to balloon to a staggering $16 trillion within the next six years.
Read Also: XRP Could See Trillions Inflows with XRPL Grabbing 1% of $1.4 Quadrillion from Tokenization Market
Armstrong believes XRP stands to benefit considerably from this trend due to Ripple’s deep involvement in RWA tokenization solutions. In October 2023, Ripple’s Chief Technology Officer (CTO) David Schwartz told the crypto community to expect real-world assets on the XRP Ledger (XRPL) by 2024 or early 2025.
Ripple has made significant strides in other blockchain-based payment solutions, and many believe the XRPL technology is a prime candidate for facilitating RWA tokenization. RWA tokenization was the second most profitable sector in the crypto market in early 2024, and the excitement is growing rapidly.
I still believe $XRP is the coin with the highest potential for this bull run. I won't be shaken.
Do you not understand how tied in @Ripple is to the RWA narrative? That's just an added bonus on top of:
-End of SEC Case for real
-XRP ETF apps
-Ripple IPO
-US Banks Coming— Ben Armstrong aka BitBoy Crypto (@BenArmstrongsX) April 6, 2024
Additional Catalysts for XRP
Armstrong’s bullish outlook extends beyond the RWA tokenization narrative. He highlights several other potential catalysts for XRP’s growth, including:
Resolution of the XRP Lawsuit: The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has cast a shadow over XRP for some time. However, the lawsuit is near its end, and many anticipate a massive resurgence for XRP when the lawsuit ends.
Spot XRP ETFs: The launch of Bitcoin spot ETFs sent the digital currency to a new all-time high, and XRP could follow a similar path if the SEC approves XRP ETFs.
Read Also: XRP Massive Pump Not Without Reason, Says BitBoy. Here are the Catalysts
Ripple’s Initial Public Offering (IPO): Speculation persists regarding a potential IPO by Ripple. A successful IPO could generate significant interest in XRP and bolster its market position.
Adoption by U.S. Banks: Increased adoption of XRP by U.S. financial institutions for cross-border payments could boost its value and transaction volume.
The RWA tokenization market holds immense promise, and Ripple’s positioning within this sector could significantly influence XRP’s adoption. Predictions of a Ripple IPO and XRP ETFs recently sparked discussion about XRP surging to $7. The community believes XRP is on its way up, and the factors outlined by Armstrong will contribute significantly to this growth.
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