- Ben Armstrong champions XRP’s potential and emphasizes Ripple’s role in the burgeoning $16 trillion asset tokenization sector.
- Upcoming milestones, including the settlement of the SEC lawsuit and the potential launch of XRP-centric ETFs, bolster the bullish outlook on XRP.
- Despite Armstrong’s optimism, fueled by XRP’s past success and Ripple’s initiatives, the cryptocurrency’s trajectory sparks debate among market watchers.
Ben Armstrong, a leading figure in cryptocurrency analysis, has made a bold prediction about XRP, a digital currency that has seen its fair share of volatility. Despite a 1.05% increase in its price over the past 24 hours XRP has experienced a 0.51% decline over the last 30 days. The token saw a significant surge in trading volume to more than $1.51 billion but lagged behind 61% of the top 100 cryptocurrencies since the onset of the current bull market.
The analyst highlighted in a recent X post that the powerhouse behind XRP, in his forecast. Ripple’s involvement in the real-world asset (RWA) tokenization market, which experts predict could reach a value of $16 trillion within six years, serves as the cornerstone of Armstrong’s bullish stance.
Armstrong further bolstered his argument by pointing to Ripple’s ambition to make the XRP Ledger the go-to platform for RWA tokenization by 2025, as announced by Ripple’s Chief Technology Officer, David Schwartz. The RWA narrative has emerged as a significant trend in cryptocurrency, ranking second only to meme coins in profitability for investors in the recent quarter.
Armstrong’s positive perspective on XRP transcends its involvement in the RWA tokenization, highlighting a broader and more encompassing enthusiasm for its future potential and impact in cryptocurrency. He’s looking forward to a series of pivotal moments that could boost XRP’s standing, such as settling Ripple’s ongoing lawsuit with the SEC, the possibility of Ripple going public, XRP gaining traction among U.S. banks, and the launch of XRP-focused ETFs by leading asset management firms.
While Armstrong’s perspective has garnered agreement from certain quarters of the market, skeptics point to his reliance on past achievements, notably XRP’s remarkable 75,000% growth in 2017, as a basis for his optimism. As the cryptocurrency market continues to evolve, the trajectory of XRP remains a focal point of debate among enthusiasts and analysts alike, making it a cryptocurrency to watch in the unfolding market cycle.
