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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.