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Bitboy Says XRP and These Six Tokens “Cannot Lose”

source-logo  thecryptobasic.com 12 April 2024 10:21, UTC

Crypto commentator Ben “Bitboy” Armstrong has identified XRP alongside Bitcoin among cryptocurrencies that he believes investors cannot go wrong with investing in them.

Armstrong expressed this view recently on X, where he outlined seven cryptocurrencies that he believes are virtually foolproof investments. These include XRP, Bitcoin, Ethereum, Solana (SOL), and SUI.

In parallel, Armstrong pointed out the specific factors that underpin his unwavering confidence in these select digital assets.

Coins that CANNOT lose:$BTC bc c'mon$ETH bc digital silver/ETF$SOL bc VC Pump Coin$SUI bc Actual Best Blockchain$XRP bc end of case +IPO$PYTH & $ONDO bc I know more than I should

Not financial advice. I make millions & lose it every cycle so don't listen to me.

— Ben Armstrong aka BitBoy Crypto (@BenArmstrongsX) April 11, 2024

Why Bitcoin and Ethereum “Cannot Lose”

As for Bitcoin, Armstrong believes it is common sense to believe BTC cannot lose. Well-known factors supporting this view include its appeal and prominence as the most valuable crypto with a cap exceeding $1.39 trillion. To put it in perspective, this valuation is more than half of the entire value of the crypto market.

Moreover, more institutional investors are involved with Bitcoin directly and indirectly via exchange-traded funds.

On the other hand, Armstrong suggested that ETH will have an enduring appeal in the digital asset space as it is being recognized as a digital silver, closely mirroring Bitcoin’s digital gold recognition. Additionally, ETH tends to enjoy the same privileges BTC relishes regarding adoption, being its closest rival.

For instance, Ethereum has pending applications for spot ETFs in the U.S. amid the approval for similar investment products with Bitcoin. Considering this factor, Armstrong noted ETH “cannot lose.”

The Case for Solana and XRP

Armstrong’s confidence in Solana rests in his view that the token is a “pump coin” for venture capitalists. Moreover, SOL has gained explosive traction recently with the launch of multiple successful meme coins on its blockchain.

On the other hand, the analyst’s conviction in XRP stems from the hope that the SEC’s lawsuit is in its final phase. Furthermore, he sees Ripple’s eventual initial public offering (IPO) as having significance on XRP.

In an earlier commentary, Armstrong asserted that XRP holds the greatest promise within the current bullish market. Aside from Ripple’s IPO, he cited other supporting factors, such as the likelihood of an XRP ETF and the possibility of adoption by major U.S. banks.

Others Coins

Ben Armstrong’s roster of ambitious coins also features SUI, given its status as the top blockchain in operation. Additionally, he highlights Pyth Network (PYTH) and Ondo Finance (ONDO) as noteworthy entries due to their focus on real-world asset tokenization.