- Bitboy challenges naysayers, refuting claims of XRP losing momentum.
- His previous prediction of a 2-3X increase in XRP and subsequent dip came true.
- Bitboy encourages patience, emphasizing XRP’s potential to hit $20.
In a recent video, crypto influencer Ben Armstrong, aka Bitboy, challenged a claim that the XRP price has lost momentum to push for further price increases, given that the coin has lost over $5 billion of its market cap.
Bitboy refuted the claim while reflecting on his accurate predictions about the price movements of XRP following the lawsuit victory. Armstrong noted that he had long discussed the potential outcome, stating that the price would experience a 2-3X increase, followed by a subsequent dip and a gradual recovery.
He stressed the precision of his forecast, as XRP doubled in value within 24 hours of securing a victory against the U.S. regulator.
Meanwhile, Armstrong called out those who had dismissed his forecast, particularly the Ripple enthusiasts who expected an immediate surge to all-time highs. The crypto analyst attributed his cautious price forecast to the general lack of awareness surrounding the lawsuit among mainstream investors.
“Your average person out there, that’s the mainstream that we need to come in, they didn’t even know that this was a lawsuit,” he emphasized.
Bitboy further noted that the recent gains were driven by existing holders and newcomers purchasing on platforms like Coinbase (NASDAQ:COIN) after relisting rather than the anticipated mass influx.
While acknowledging ongoing complexities and potential appeal questions, Armstrong firmly believed that XRP’s newfound regulatory clarity and increased liquidity were game-changers.
Armstrong also acknowledged the prevailing market doldrums, which led to a lack of significant price movement in the overall cryptocurrency space. He encouraged his viewers to remain engaged and patient during these periods, emphasizing his belief in XRP’s potential to reach $20 in the next bull run.
XRP trades at $0.6222 at press time, down significantly by over 9% in the last seven days. Its market cap hovers around $32 billion, down from over $37 last month.
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