BitBoy Crypto predicts XRP to soar in current market cycle

Cryptocurrency blogger Ben Armstrong believes that Ripple could become one of the most profitable cryptocurrencies in the near future. BitBoy Crypto linked this to the plans of Bitwise, which recently filed an application with the SEC to launch an ETF based on XRP.

The emergence of a spot fund tied to XRP could be a turning point that will help the asset grow thanks to indirect investments from large companies. According to the blogger, if investors have not been very interested in Ripple until now, the situation will change in the near future.

“The XRP cryptocurrency should dominate the global banking sector. The approval of an ETF linked to XRP and the holding of an IPO by Ripple can make XRP the number one coin in this cycle,” Armstrong wrote.

The conflict between the SEC and Ripple Labs is still ongoing. The regulator has appealed a court ruling that earlier ruled that selling XRP to retail investors does not violate securities laws. The company has promised to fight to the bitter end.

Analyst Bobby A said all technical factors point to a bullish outlook for XRP. He believes that initiatives like the SEC’s appeal are simply pushing uninformed investors out of the crypto market to deprive them of the opportunity to take advantage of the subsequent rally.