June 21, 2024

Amid the ongoing crypto bull run, prominent analyst Ben Armstrong boldly declares XRP as the coin with the greatest potential to soar. Despite recent setbacks in XRP’s price action, Armstrong remains unwavering in his optimism. He cited several factors driving his conviction.

Ben Armstrong Optimistic about XRP Despite Challenges

Over the past 24 hours, XRP has shown a modest gain of 2.11%, accompanied by a remarkable surge in trading volume exceeding $1.43 billion. This uptick coincides with Bitcoin reclaiming the $72,000 price level.

However, over the past 30 days, XRP has recorded a 4% price decline. The token is also more than 60% below the performance of the top 100 digital assets during this bull season.

Despite these challenges, Armstrong remains bullish on XRP’s prospects. He points to the narrative surrounding real-world asset (RWA) tokenization as a key driver of its potential.

Notably, Ripple is advancing beyond crypto payment solutions. It aims to tap into the RWA tokenization market, which has been projected to reach a staggering $16 trillion within the next six years. 

Moreover, Ripple’s Chief Technology Officer, David Schwartz, has expressed confidence in the prospects of XRP Ledger (XRPL). He stated that the XRPL will become the preferred platform for RWA tokenization by 2025, further supporting Armstrong’s outlook.

Armstrong sees XRP benefiting hugely from Ripple’s RWAs tokenization efforts. So, the pundit firmly believes that the token is primed for significant gains in the current bull run.

Looking ahead, Armstrong anticipates further positive developments within Ripple. These include the resolution of the ongoing lawsuit with the SEC, Ripple’s potential IPO, and the potential adoption by major U.S. banks.

Additionally, he highlights the possibility of prominent asset managers launching spot XRP ETFs, further fueling XRP’s upward trajectory.

Ripple’s CEO Cites Key Points to Support XRP Optimism

Armstrong is backing up the positive XRP outlook with some promising events surrounding the token. Ripple’s CEO, Brad Garlinghouse, alongside David Bchiri, CEO of Xrpl Commons, shed light on these events during the Paris Blockchain Week.

They delved into various topics surrounding Ripple and the broader XRP ecosystem. Their discussions ranged from the possibility of a spot Exchange Traded Fund (ETF) in the US to Ripple’s plans of launching a USD stablecoin this year.

They also drew attention to community expansion efforts and the regulatory landscape of digital assets. Notably, during his speech, Garlinghouse stressed the importance of diversification in crypto investments. He advised investors to consider a diversified portfolio rather than solely focusing on Bitcoin or XRP.

He further highlighted the regulatory clarity that XRP shares with Bitcoin in the US, seeing it as a key advantage that could open doors for financial products like ETFs in the future. Although there are potential delays in altcoin ETFs, Garlinghouse remains hopeful about their future, particularly for XRP.


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