Insights from BitBoy and market trends
Amid the ongoing market boom, Bitcoin is very close to breaking all-time highs. In the midst of these flash market sentiments, Ben Armstrong ‘Bitboy' emphasized that XRP will reach $10 regardless.
With XRP steady around $0.5200, trading in the same range as a week ago, Bitcoin is advancing more than 9% as it prepares to reclaim its seven-month high of $73,000 last week. This improvement boosted the broader market to nearly $2.5 trillion.
However, despite Bitcoin's gains, XRP's trajectory has not seen any major gains and losses. This caused frustration among XRP holders. However, community members like Ben Armstrong (Bitboy) and Edoardo Farina have comforted XRP investors, saying that the XRP bull case continues.
XRP to $10 “No Matter What”
In a recent X post, Edward Farina from Bitboy shared a statement in which he boldly stated that XRP will reach $10 “no matter what.” In particular, XRP reaching $10 represents a significant growth of 1,806% from XRP's current price of $0.5245, which could be a new all-time high.
Note that XRP is not the subject of the SEC's Ripple case, which recently entered the appellate phase. While the SEC case may have influenced XRP's course during the last bull run, BitBoy says it's not the case now.
Previously, investors were reluctant to enter the XRP market due to the SEC's classification of the asset as a primary security, leading many to believe that XRP would never materialize. However, the court later decided that XRP is not a security, BitBoy believes that there are no regulatory restrictions that can affect the development direction of XRP.
“The case is over. It doesn't matter if there is an appeal,” he emphasized. He also argued that “XRP is the institutional vehicle of choice” in a clear regulatory way, saying that wealthy investors can trust investing in XRP without fear of legal repercussions.
XRP will not hit $10 all at once.
In a separate tweet, Farina shared that XRP will not go to $10 all at once. He believes XRP will first approach $10, then “immediately drop” to around $5. According to Farina, this decline could shake up retail investors and create a supply shock before rebounding in force.
XRP to outperform Bitcoin and Ethereum
Armstrong said that XRP outperforms both Bitcoin and Ethereum, and that Ethereum outperforms by a significant margin. He previously said that XRP will overtake Ethereum as the second largest crypto asset, with a price target of between $16 and $22.
He attributes XRP's potential growth to its unique role in the market, especially cross-border liquidity. He noted that XRP has outperformed Ethereum in the past and that current market dynamics favor XRP for greater growth, bolstered by factors such as bank partnerships and potential ETFs.
