Popular crypto pundit Ben Armstrong, aka BitBoy, has suggested that XRP could get close to a $6 trillion market cap in the future, especially if Bitcoin reaches $150,000.
BitBoy shared this sentiment during his recent appearance on the Thinking Crypto Podcast. When host Tony Edward asked Armstrong for his price prediction for XRP, he first highlighted his best-case scenario for XRP.
$52 XRP is “Attainable”
Armstrong revealed that his original price target for XRP was between $18 and $25. He noted that he even envisions XRP attaining $52 if everything aligns perfectly for XRP. At this higher threshold, XRP’s market cap is above $5 trillion.
According to BitBoy, Ripple’s IPO and the launch of an XRP ETF are factors that would warrant these lofty aspirations. He believes that the combination of these two events could propel XRP to unprecedented heights.
Notably, the XRP Army is bullish about an ETF launch in the U.S. as it would allow new investors to gain exposure to XRP. The main bullish factor rests on the potential price impact, similar to what was observed with Bitcoin when it hit an all-time high following the introduction of ETFs before its most recent halving.
As for Ripple’s IPO, the community expects the company’s public listing to promote XRP to a much broader audience, likely increasing adoption and driving up the price.
However, Armstrong highlighted that the money needed to push XRP to new heights would come from other coins like ADA. He specifically mentioned the rivalry between ADA and XRP and expressed sympathy for the ADA community.
BitBoy believes many ADA investors are stuck in a sunk “cost fallacy” and are unable to shift to assets that might perform better, like XRP.
BitBoy “Realistic Targets”
Meanwhile, Armstrong suggested that an XRP price of up to $52 might be unrealistic. He noted that a more realistic price target for XRP would be between $8 and $10, a sentiment shared by many other analysts.
This projection takes inspiration from the fact that XRP previously peaked at $3.84, so doubling that peak seems achievable, according to BitBoy.
Ultimately, Armstrong noted that Ripple’s IPO would be sufficient to drive XRP to the $18 to $25 range while arguing that the addition of an ETF would continue to accelerate it to $52.
However, he expressed skepticism about all these factors aligning before the end of the current bull run, emphasizing the importance of setting realistic expectations. As a result, he reiterated his belief that a price range of $8 to $10 is very realistic.
At press time, XRP hovers around $0.57.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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