thecryptobasic.com
Armstrong has continued to throw his weight behind XRP despite its massive price dip.
Ben Armstrong, a famous cryptocurrency trader who has a huge following on microblogging platform Twitter and video sharing platform YouTube, has continued promoting XRP despite Ripple’s ongoing lawsuit with the United States Securities and Exchange Commission (SEC).
The popular cryptocurrency influencer took to Twitter today to say that Ripple is a better digital currency than Bitcoin. Armstrong first teased his over 850,000 followers with a tweet, which read:
“Here is a super long and thorough thread explaining one of the most complicated things in crypto to understand: WHAT MAKES #BITCOIN THE GREATEST ASSET IN THE HISTORY OF MANKIND.”
However, he made a comment under the tweet, where he dismissed his previous assertion saying: “Just kidding. It’s not. Everyone knows it’s $XRP. It’s a better #Bitcoin! Thanks for reading.”
Here is a super long and thorough thread explaining one of the most complicated things in crypto to understand:
WHAT MAKES #BITCOIN THE GREATEST ASSET IN THE HISTORY OF MANKIND$BTC
👇👇👇
— Ben Armstrong (@Bitboy_Crypto) June 18, 2022
Armstrong Bullish on XRP
Despite Armstrong disclosing in his Twitter bio that he is a fan of Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Ripple (XRP), he has always thrown his weight behind Ripple compared to other digital currencies on the list.
Earlier this year, Armstrong made positive predictions about XRP, saying Ripple holders will be rich.
XRP Plunges Amid SEC Lawsuit
Since Armstrong made the comment, the price of XRP has fallen tremendously majorly as the litigation against Ripple continues.
Like other digital currencies, XRP has also been badly affected by unfortunate market events, including rising inflation, the Terra and Celsius Network incidents among others.
At the time of writing, XRP is trading around $0.31, and it ranked as the eighth-largest cryptocurrency with a market capitalization of $15.1 billion.
Interestingly, XRP investors have been holding strong despite the massive collapse of the token, as they expect that a positive outcome in the lawsuit will propel price to the cryptocurrency’s price to rally.
At the moment, legal analysts expect the Ripple lawsuit to end by March next year.
However, with the SEC doing everything it can to protect internal documents related to the June 14, 2018 speech made by its former Director of Corporation Finance William Hinman, attorney John Deaton said the agency may be forced to settle before next year if the court orders it to surrender the document to Ripple.