Crypto influencer Ben Armstrong, popularly known as BitBoy, has made a notable prediction regarding the future of XRP and several other altcoins.
Armstrong believes that XRP and a select group of altcoins are on the verge of substantial price appreciation. In Armstrong’s words, these altcoins are “going to rip soon.”
Armstrong shared his prediction on X, and this perspective comes at a time when many altcoins have experienced underwhelming price performance, particularly in contrast to Bitcoin’s recent surge. The crypto influencer specifically highlighted five altcoins that he believes warrant close attention:
Ondo Finance (ONDO): A project focused on tokenizing real-world assets, a sector with a projected future value of $16 trillion.
The Graph (GRT): A decentralized protocol for data indexing and querying, often compared to Google’s web indexing. Many believe The Graph will be the search engine of Web 3.
Pyth Network (PYTH): A decentralized oracle network launched in 2021, and is notable for sourcing data directly from first-party publishers for blockchain applications.
Floki Inu (FLOKI): A prominent hyper-deflationary memecoin inspired by Elon Musk and his popular Shiba Inu dog.
XRP: The native currency of the XRP Ledger (XRPL), built to power cross-border payments and serve as a global reserve currency. XRP is the most notable token on this list as it is currently among the top ten cryptocurrencies by market cap and Ripple, the company behind it has a vast amount of international partnerships that are increasing its prominence and adoption.
Armstrong has consistently maintained a bullish stance on XRP, going so far as to project a potential market capitalization of over $5 trillion for the asset in the current market cycle. This ambitious prediction would translate to a 9,170% surge to $52, a monumental increase from its current price hovering around $0.57.
Although Armstrong did not explicitly state reasons for his confidence, multiple recent developments support his bullish outlook for XRP. Top of the list is the recent launch of the XRP Trust by Grayscale, a leading digital asset management firm.
Experts believe the Grayscale XRP Trust will follow a similar path to the Bitcoin trust, which Grayscale eventually turned into a spot Bitcoin ETF. The excitement for an XRP ETF has been building since 2023, and approval of these investment products could easily send the digital asset to a new all-time high.
Additionally, there are rumors of an impending Initial Public Offering (IPO) for Ripple, and the increased exposure and attention could also significantly boost XRP.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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Singapore, Singapore, 18th September 2024, Chainwire