Ben Armstrong, widely recognized as BitBoy on social media platforms, has once again captured the attention of members of the crypto community with his strong support for XRP. In a recent post on X, the influential crypto commentator emphasized the importance of invest in XRP at the current price level.
BitBoy underscored its belief that potential investors are overlooking the current opportunity to acquire XRP may regret their decision after the next five years. His comments appear to be anchored in anticipation of a substantial increase in the price of XRP over the next five years.
BitBoy remains bullish on XRP
BitBoy is one of the most popular names among crypto traders and investors. The crypto influencer is best known for his optimistic attitude towards the industry, with XRP being a key aspect over the years. As such, BitBoy has reiterated its beliefs on cryptocurrency. Although his recent bullish view on the cryptocurrency was not accompanied by any technical or fundamental analysis of XRP, BitBoy’s position as a crypto influencer allowed the post to gain traction among many investors.
Five years from now you’ll wish you had bought more $XRP.
— The BitBoy (@BenArmstrongsX) October 10, 2024
As expected, his comments sparked a series of reactions within the community. Some were skeptical, while others conveyed BitBoy’s optimistic outlook. One account, Ben (@kcryptoinvest), who has 372,200 followers on the platform, expressed frustration. He pointed out that despite holding XRP for five years, he has yet to see any significant returns, noting that the cryptocurrency’s price remains largely unchanged from when he initially purchased.
Another investor with a more optimistic view, (@myfriendblondie), who has 24,200 followers, responded by arguing that five years may be too long. Even just one year could be enough for those on the fence about XRP to regret missing out on the potential gains in the following year.
What’s next for the Altcoin?
BitBoy is part of a shrinking group of investors who continue to maintain a positive outlook for XRP in light of recent price movements. 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 exactly been impressive since then, and many investors are already turning their backs on the digital asset.
Over the past year, XRP has been largely confined to a tight trading range between $0.50 and $0.60, which has frustrated many long-time holders. Even the conclusion of the high-profile legal battle between Ripple and the SEC, which some hoped would spark a significant rally, delivered little in terms of rallying. This has led to claims of Many call crypto dead. Furthermore, the recent call from the SEC has worsened sentiment, as the XRP price now appears to be back in the shade of the lawsuit.
At the time of writing, XRP is trading at $0.5381. The next expected catalyst for a significant XRP price increase is the expected launch of Spot XRP ETFs.
Featured image created with Dall.E, chart from Tradingview.com