Ben Armstrong, widely known as BitBoy on social media, has once again attracted attention from members of the crypto community with his strong endorsement of XRP. In a recent post on X, an influential crypto analyst emphasized the importance of investing in XRP at its current price level.
BitBoy reiterated his belief that potential investors are ignoring the current opportunity to acquire XRP they may regret their decision after the next five years. His words seem to be focused on the expectation of a big increase in the price of XRP in the next five years.
BitBoy Remains Bullish on XRP
BitBoy is one of the most popular names among crypto traders and investors. The crypto promoter is well known for his bullish stance on the industry, and XRP has been a big part of it over the years. So, BitBoy reiterated his belief in cryptocurrency. Although his recent bullish opinion on the cryptocurrency did not coincide with the technical or fundamental analysis of XRP, BitBoy’s position as a crypto promoter allowed the post to gain traction among many investors.
In 5 years you will wish you had bought more $XRP.
— The BitBoy (@BenArmstrongsX) October 10, 2024
As expected, his comments elicited mixed reactions from the public. Some were skeptical, while others conveyed BitBoy’s view of hope. One account, Ben (@kcryptoinvest), which has 372,200 followers on the platform, expressed frustration. He revealed that despite holding XRP for five years, he has yet to see a significant return, noting that the price of the cryptocurrency has remained unchanged since his first purchase.
Another optimistic investor, (@myfriendblondie), with 24,200 followers, responded that five years might be too long. Even just one year can be enough for those on the fence about XRP to regret missing out on their 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 on XRP due to recent price movements. Back in July 2023, BitBoy boldly predicted that XRP could reach a price range between $15 and $35 within the next 18 months. However, XRP’s price action hasn’t been great since then, and many investors have already turned their backs on the digital asset.
Over the past year, XRP has been largely locked in a tight trading range between $0.50 and $0.60, frustrating many long-term holders. Even the conclusion of the high-profile legal battle between Ripple and the SEC, which some hoped would start a significant meeting, failed to do much about the meeting. This led to claims of many are calling crypto dead. In addition, the recent SEC complaint has dampened sentiment, as the price of XRP now seems to be back under the shade guilty.
At the time of writing, XRP is trading at $0.5381. The next expected catalyst for XRP’s price increase is significant Spot XRP ETFs are expected to be launched.
The featured image was created with Dall.E, a chart from Tradingview.com