Renowned crypto commentator Ben “Bitboy” Armstrong reiterated his long-standing bullish view on XRP, suggesting investors may regret their current investment decisions.
In a recent post on X, Armstrong claimed that in five years, today’s XRP investors will wish they had saved up more tokens. This perspective is based on his belief in the long-term prospects of the seventh largest cryptocurrency.
XRP is currently trading around $0.5393, but optimistic market commentators like Bitboy believe the asset’s value could rise significantly by the end of the decade. Key factors influencing his optimism include the introduction of the XRP ETF and Ripple’s anticipated initial public offering (IPO).
BitBoy’s optimistic price target for XRP
In a statement in July 2023, BitBoy claimed that depending on the timing of Ripple’s IPO, the value of XRP could rise to $15 or even as much as $35.
Another analysis in August predicted that XRP could reach a valuation of more than $6 trillion, equivalent to a market price of about $60.
His latest bullish comments on XRP come last week, when he encouraged crypto enthusiasts to pay close attention to XRP and warned that it could be the season’s best-performing crypto asset. This follows the comment.
Notably, in this recent post, BitBoy did not provide any specific goals for XRP by 2029. He simply expressed the idea that investors may regret not owning more XRP than they currently do. The post garnered mixed reactions from community members.
While some agree that XRP’s five-year outlook is promising, others argue that XRP’s historical patterns do not support this claim. In particular, one commenter noted that he bought XRP five years ago and the price has not improved since then, suggesting that the next five years may not be as promising as BitBoy suggests. I’m doing it.
I bought XRP 5 years ago and the price is the same
— Ben (@kcryptoinvest) October 10, 2024
XRP price trend in the past 5 years
On October 11, 2019, XRP opened at $0.2721, reached an intraday high of $0.2759, and closed at $0.2711. Fast forward to today, XRP price is $0.5393, reflecting a 98.93% increase over five years.
By comparison, Bitcoin’s value was as low as $8,316 five years ago and is now worth $61,012, an impressive five-year return of 633%. Looking at other altcoins, Ethereum boasts an even more commendable rise of 1,220% in five years, currently trading at $2,410 compared to $181 in October 2019.
Basically, while XRP’s price trend over the past five years may not be all that impressive, market watchers believe that the next five years have even greater potential.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
