LUCKNOW (CoinChapter.com) — XRP’s bull run in the 2024-2024 session will beat other top-ranking cryptocurrencies like Bitcoin and Ethereum, according to controversial crypto analyst Ben ‘BitBoy Crypto‘ Armstrog. The statement comes after XRP’s stunting during the 2020-2021 bull market, mainly due to Ripple’s partial legal win versus the US Securities and Exchange Commission (SEC).

Why is XRP Bull Run Poised to Beat Crypto Rivals?

According to BitBoy, several key factors have aligned to set the stage for XRP to be a market leader in the coming bull cycle. Firstly, he points to Ripple’s founders and the XRP community as the main growth drivers. 

Armstrong had high praise for the Ripple team, highlighting prominent members such as CEO Brad Garlinghouse, co-founder Chris Larsen, CTO David Schwartz, and key executives Monica Long and Stuart Alderoty. Ripple’s executives have proven to be some of the most prominent builders and advocates in crypto, continuing to push adoption even amidst legal troubles.

He described them as the best in the industry and gave the team top marks with a 10/10 score. Meanwhile, the XRP investor community has remained passionately loyal in their support. 

Ripple’s Strategic Moves

Additionally, Armstrong lauded Ripple’s marketing strategy targeting institutional investors as the most concentrated and effective in crypto. However, he noted these ads may not reach retail investors as they go about their daily lives.

Ironically, Armstrong stated the SEC lawsuit itself has been Ripple’s biggest marketing boost, costing the company over $200 million to fight — more than any advertising firm’s budget. Despite Ripple scoring some victories, Armstrong said the case still dampened XRP adoption in the US.

Furthermore, Armstrong notes that XRP failed to realize its full potential during the last bull run in 2017, when it outperformed most other cryptos. Addressing skeptics who argue that Ripple’s owning 50% of the XRP supply will limit price appreciation, Armstrong contends this could benefit investors by allowing Ripple to distribute XRP to expand utility and liquidity strategically. Once adoption accelerates, parabolic gains reminiscent of 2017 are very possible.

Evaluating XRP’s performance, Armstrong emphasized that the only reason it failed to reach its all-time high last bull run was SEC pressure. He argued that XRP was previously the second-best-performing crypto in the 2017 bull market. Its track record shows robust potential if regulatory clarity unshackles it.

XRP’s Comeback and Predictions for Explosive Gains

With momentum stunted by the SEC lawsuit, he expects XRP to compensate for lost time when conditions improve. As the case nears conclusion with a couple of Ripple victories already secured, certainty around XRP’s regulatory status should unlock institutional investment and usage. 

Armstrong is not alone in his bullish XRP outlook. Fellow crypto analyst FeiryTrading has also projected monumental gains, consistently arguing that XRP has the potential to cross the double-digit threshold to post explosive 7,000% returns.

Though the 2020 crypto boom left XRP behind, Armstrong and other experts predict legal clarity and expanding real-world use cases will enable it to realize its full potential as a top performer when conditions favor a bull market rerun between 2024-2025. This time, explosive gains could be in store if XRP sees mass adoption.

The post XRP Bull Run in 2024 Will Outperform Crypto Market: Analyst appeared first on CoinChapter.

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Filed under: Bitcoin - @ December 14, 2023 8:25 am