Mike Novogratz changes his skepticism towards XRP to loyalty

Former Bitboy Crypto host Ben Armstrong considers the XRP token to be the absolute leader of the bullish rally in the crypto market, which could last until 2025. The expert called the digital asset “the best coin in the world,” listing the reasons that contributed to strengthening its position.

The crypto blogger praised Ripple’s marketing, emphasizing that the promotion of the project is largely aimed at large companies. At the same time, he ironically noted that Ripple received the best advertising from the SEC. The trial between the regulator and the crypto company cost the latter approximately $200 million.

Armstrong said that pressure from the US Securities and Exchange Commission was the only obstacle that prevented the Ripple coin from setting a new price high during the recent bull rally. The blogger recalled the earlier results of XRP, when, against the backdrop of the market rise in 2017, the cryptocurrency took second place in capitalization.

The ex-host of Bitboy Crypto pointed out the prospects of XRP in terms of using the asset in the global banking system. The analyst also noted the development of technology and the decentralization of the Ripple project.

At the same time, Armstrong did not give the highest score to XRP in terms of tokenomics, explaining that more than 50% of the coin reserves are held by Ripple — every month the company releases altcoins from escrow. As a result, XRP was worthy of 96 points out of 100, according to the crypto enthusiast’s assessment.

And the head of Galaxy Digital, Mike Novogratz, changed his mind regarding the Ripple project and in particular the XRP cryptocurrency. He said his earlier comments were wrong, acknowledging the changes that have come since Ripple’s high-profile legal victories this year have strengthened the company’s position in the market.

Previously, the investor expressed doubts about the prospects of XRP, drawing attention to Ripple’s significant share in the asset as a possible drawback.

“I was skeptical that XRP would have lasting power,” Novogratz admitted, referencing Ripple’s 60%, now reduced to about 50%, ownership of the token. But now, there’s a tone of admiration in his words for Ripple’s leadership and the staunch XRP community. Novogratz tips his hat to CEO Brad Garlinghouse and the “XRP Army”.