Ben Armstrong, widely known as BitBoy across social media platforms, has once again attracted the attention of members of the cryptocurrency community with his strong endorsement of XRP. In a recent post on X, the influential cryptocurrency commentator emphasized the importance of Invest in XRP at its current price level.
BitBoy emphasized his belief that potential investors are ignoring the current opportunity to acquire XRP They may regret their decision After the next five years. His statements seem to be based on the expectation of a significant rise in XRP prices in the next five years.
BitBoy remains bullish on XRP
BitBoy is one of the most well-known names among cryptocurrency traders and investors. The cryptocurrency influencer is particularly known for his bullish stance in the industry, with XRP being a major aspect over the years. As such, BitBoy reiterated his condemnation of cryptocurrencies. Although his recent bullish outlook on the cryptocurrency was not accompanied by technical or fundamental analysis of XRP, BitBoy’s position as a cryptocurrency influencer allowed the article to gain traction among many investors.
In 5 years you will wish you had bought more $XRP.
-The Pitboy (@BenArmstrongsX) October 10, 2024
As expected, his statements sparked a range of reactions within the community. Some were skeptical, while others relayed BitBoy’s optimistic forecast. One account, Ben (@kcryptoinvest), has 372,200 followers on the platform, Express frustration. He noted that although he has held XRP for five years, he has not seen any significant returns yet, noting that the price of the cryptocurrency is largely unchanged from when he initially bought.
Another investor with a more optimistic view, (@myfriendblondie), who has 24,200 followers, He responded Arguing that five years might be too long. Even just one year could be enough for those hesitant about XRP to regret missing out on its potential gains next year.
What’s next for altcoins?
BitBoy is part of a shrinking group of investors who continue to maintain a positive outlook for XRP in light of recent price movements. Back in July 2023, BitBoy predicted boldly That XRP could reach a price range between $15 and $35 within the next 18 months. However, XRP price action has been less impressive since then, and many investors have already turned their backs on the digital asset.
Over the past year, XRP has been largely confined to a narrow trading range between $0.50 and $0.60, which has frustrated many of its long-time holders. Even the conclusion of the high-profile legal battle between Ripple and the SEC, which some had hoped would lead to a significant rally, failed to deliver much in terms of upside. This has led to claims Many call cryptocurrencies dead. Furthermore, the recent appeal by the SEC has exacerbated sentiment, as the price of XRP now appears to be the case. Back under the shade The suit.
At the time of writing, XRP is trading at $0.5381. The next expected catalyst for a significant increase in XRP prices is… Expected launch of Spot XRP ETFs.
Featured image created with Dall.E, chart from Tradingview.com