Market commentator Ben “BitBoy” Armstrong no longer too lengthy ago asserted that XRP would possibly well be the finest-performing asset for the ongoing market cycle.
XRP has witnessed a 2.11% originate inside of the closing 24 hours, with its trading quantity surging by over 70% above $1.43 billion. This small uptick emerged as Bitcoin reclaimed the $72K territory in the closing few hours.
Nonetheless, zooming out on a 30-day scale, XRP retains a 4% damaging label action. Furthermore, XRP has underperformed 61% of the tip 100 cryptos since this bull season took shape.
Despite these discouraging metrics, pundits fancy Ben Armstrong factor in XRP would possibly well maybe in the atomize emerge because the finest-performing asset on this bullish phase. Armstrong voiced this sentiment in a recent post on X, citing just a few issues, including the enterprise efforts of crypto cost giant Ripple.
“I soundless factor in XRP is the coin with the most effective skill for this bull creep,” Armstrong proclaimed, including, “I won’t be shaken.”
I soundless factor in $XRP is the coin with the most effective skill for this bull creep. I can also honest no longer be shaken.
Draw you no longer know the blueprint tied in @Ripple is to the RWA yarn? That is good an added bonus on top of:
-Discontinue of SEC Case for proper
-XRP ETF apps
-Ripple IPO
-US Banks Coming— Ben Armstrong aka BitBoy Crypto (@BenArmstrongsX) April 6, 2024
Why XRP Can also honest Like Best Possible
Armstrong’s essential justification for the sustained optimism is the right kind-world asset (RWA) tokenization yarn, which Ripple is deeply engrossed in. Particularly, industry experts salvage projected that the RWA tokenization market will most seemingly be worth $16 trillion in the following six years.
Armstrong sees XRP potentially making the loads of the yarn with Ripple’s efforts. Besides, for the interval of a summit closing year, Ripple’s Chief Technology Officer, David Schwartz, asserted that the XRP Ledger would develop to be the in vogue platform for RWA tokenization by 2025.
Particularly, the RWA yarn has persevered to originate traction in the crypto scene, trailing finest meme cash. A contemporary file disclosed that the RWA yarn changed into the 2d most winning for crypto investors in the coolest-concluded quarter.
Other than the RWA yarn, Armstrong grounded his bullish outlook for XRP on other impending trends about Ripple. Specifically, he cited the tip of the protracted lawsuit with the SEC, Ripple’s initial public offering (IPO), and the aptitude adoption by U.S. banks. Furthermore, he cited the potentialities of great asset managers launching space XRP ETFs.
While some market watchers concur with Ben Armstrong’s optimistic outlook on XRP’s skill, others argue that he’s fixated on past successes. This refers to 2017 when XRP seen a staggering 75,000% boost inside of a year.
