Edoardo Farina, CEO of Alpha Lions Academy, and Ben “Bitboy” Armstrong, a prominent crypto influencer, recently had an insightful conversation about XRP and its potential.
Armstrong shared his optimistic outlook for XRP, predicting that the asset’s journey to the $10 mark is inevitable. Farina captioned the clip of their conversation on X. In the video, Armstrong emphasized XRP’s potential to outperform Bitcoin and Ethereum in the currency cycle.
Is XRP Going to $10?
Armstrong firmly believes in XRP’s potential for significant growth, asserting, “XRP is going to get to that $10 level.” He predicted that the digital asset will “make up a lot of ground on Ethereum,” a sentiment he shared recently when he drew attention to XRP’s time as the second-largest cryptocurrency and its potential to reclaim that spot in the current cycle.
This prediction is underpinned by the resolution of the longstanding legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). The legal battle has consistently held down the digital asset, but Armstrong pointed out that the case is effectively concluded.
“The case is over,” he stated, emphasizing that XRP is now recognized as a regulated cryptocurrency, not a security. Although the SEC appealed certain aspects of the ruling in early August, XRP’s non-security status is safe, and the law of the land, according to Ripple’s Chief Legal Officer (CLO) Stuart Alderoty.
Farina echoed Armstrong’s sentiments, underscoring the irrelevance of any potential appeal. “It doesn’t matter if there’s an appeal,” Farina noted, referencing Alderoty’s comments. According to Farina, the ongoing debate is purely financial, revolving around the settlement amount, which is currently $125 million.
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The Importance of Regulatory Clarity
Armstrong emphasized the strategic importance of XRP’s regulatory clarity. He pointed out that since 2017, many skeptics have dismissed XRP as a “banker coin” and doubted its legitimacy due to the SEC’s lawsuit.
He noted that big money institutions need XRP to be properly regulated so they can use it. With the security issue resolved, Armstrong believes institutional investors have a clear path to incorporate XRP into their portfolios.
This regulatory clarity is expected to bolster confidence among institutional investors, who previously hesitated due to legal uncertainties. Armstrong encouraged the XRP community to view the SEC’s actions as part of a broader strategy.
He believes the SEC’s lawsuit is a necessary step in establishing market trust, and he suggested that the regulatory clarity achieved through the case will ultimately benefit XRP’s adoption and growth. Many experts have reiterated the $10 target, and it’s only a matter of time before XRP starts climbing as analysts expect.
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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