Ben Armstrong, widely recognized as BitBoy on social media platforms, has once again caught the attention of members of the crypto community with his strong support for XRP. In a recent article on X, the influential crypto commentator highlighted the importance of invest in XRP at its current price level.
BitBoy emphasized its belief that potential investors who overlook the current opportunity to acquire XRP may regret his decision after the next five years. His remarks appear rooted in the anticipation of a substantial rise in the price of XRP over the next five years.
BitBoy remains bullish on XRP
BitBoy is one of the most popular names among crypto traders and investors. The crypto influencer is particularly known for his bullish stance on the industry, with XRP having been a major focus over the years. As such, BitBoy reiterated its conviction on cryptocurrency. Although his recent bullish outlook on the cryptocurrency has not been accompanied by technical or fundamental analysis of XRP, BitBoy’s position as a crypto influencer has allowed the post to gain traction with many investors .
In 5 years you will want to buy more $XRP.
– The BitBoy (@BenArmstrongsX) October 10, 2024
As expected, his comments sparked various reactions within the community. Some were skeptical, while others relayed BitBoy’s optimistic outlook. One account, Ben (@kcryptoinvest), which has 372,200 followers on the platform, expressed frustration. He pointed out that although he has held XRP for five years, he has yet to see any significant returns, noting that the price of the cryptocurrency remains largely unchanged from his initial purchase.
Another more optimistic investor, (@myfriendblondie), who has 24,200 followers, responded by saying that five years might be too long. Even just one year could be enough for those on the fence about XRP to regret missing out on its potential gains next year.
What’s next for Altcoin?
BitBoy is part of a dwindling group of investors who continue to maintain a positive outlook for XRP in light of recent price movements. In July 2023, BitBoy boldly predicted that XRP could reach a price range between $15 and $35 in the next 18 months. However, XRP’s price action has been less than impressive since then, and many investors are already turning their backs on the digital asset.
Over the past year, XRP has largely been limited to a narrow trading range between $0.50 and $0.60, frustrating many long-time holders. Even the conclusion of Ripple’s high-profile legal battle with the SEC, which some hoped would spark a significant rally, didn’t do much in the way of a rally. This gave rise to assertions of many are calling crypto dead. Additionally, the recent SEC call has worsened sentiment as XRP price now appears to be back in the shadows of the trial.
At the time of writing, XRP is trading at $0.5381. The next expected catalyst for a significant increase in the price of XRP is the planned launch of Spot XRP ETFs.
Featured image created with Dall.E, chart from Tradingview.com
