Prominent crypto influencer Ben Armstrong, known as “Bitboy,” has drawn attention to XRP’s remarkable resurgence, noting that the digital asset is “just getting started.” His remarks follow XRP’s recent surge to $1.50, its highest price since 2021, and only a short distance from its previous peak of $1.96.
Armstrong’s comments reflect the growing optimism within the crypto community as XRP gains momentum alongside broader market strength. This milestone for XRP comes amidst a wave of positive developments that have excited the community.
These include regulatory shifts, heightened institutional interest, and Bitcoin’s historic rally. Investors and analysts speculate that the asset could soon surpass its 2021 high, solidifying its position as one of the leading cryptocurrencies by market capitalization.
Regulatory Shifts and Market Optimism
One of the major drivers of optimism for XRP is the recent announcement by Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), that he will step down in January 2025, making way for the Trump administration to appoint a new SEC Chair.
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Gensler has championed the SEC’s legal battles against cryptocurrency companies, including Ripple. His departure will pave the way for a more crypto-friendly environment in the U.S., potentially benefiting XRP and other digital assets.
Multiple XRP-focused exchange-traded fund (ETF) applications have been submitted, signaling increased institutional interest. If approved, these ETFs could provide a new avenue for investors to gain exposure to XRP, further boosting its adoption and market momentum.
The broader cryptocurrency market has also bolstered the sentiment. Bitcoin recently reached an all-time high of $99,655, with market analysts suggesting that the flagship cryptocurrency is poised to break the $100,000 milestone. This historic rally has lifted the entire market, creating a favorable environment for altcoins like XRP.
Expert Projections for XRP
Market veterans have weighed in on XRP’s potential to surpass its 2021 high. Peter Brandt, a well-known trader and technical analyst, recently predicted that breaking through the $1.96 level could give the digital asset the boost it needs for a sustained price surge.
Such a move would mark a significant milestone for XRP, further solidifying its position as one of the top cryptocurrencies. A new all-time high has never been closer for XRP, and it will be intriguing to watch where it goes in the next few weeks or months.
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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