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Amid the ongoing market-wide rebound push, XRP remains stable around $0.5200, maintaining the same range it traded in a week ago. In contrast, Bitcoin has advanced over 9% in the past week, reclaiming a seven-month high above $73K. This upswing has elevated the broader market to nearly $2.5 trillion, pushing overall sentiment into “greed” territory.
Despite Bitcoin’s gains, XRP’s trajectory has remained flat, with no notable gains or declines, keeping steady around $0.52. This trend has caught the attention of market participants, particularly XRP holders, who are disappointed by the lack of movement.
However, community commentators like Ben Armstrong (BitBoy) and Edoardo Farina have reassured XRP investors, arguing that XRP’s bull case remains intact.
XRP to $10 “No Matter What”
In a post on X, Farina called attention to a recent statement from BitBoy, who boldly asserted that XRP would reach a price of $10 “no matter what.” For context, $10 represents a significant growth of 1,806% from XRP’s current price of $0.5245, potentially marking a new all-time high.
🚨: Bitboy Predicts $10 XRP “No Matter What”! Calls for a Rally “Against BTC”! @BenArmstrongsX pic.twitter.com/Wwch2eYxR4
— EDO FARINA 🅧 XRP (@edward_farina) October 29, 2024
Armstrong’s optimism stems from the fact that XRP is no longer a subject of the ongoing SEC Ripple case, which has recently entered an appeal phase. BitBoy noted that, in the last bull run, the SEC case influenced XRP’s trajectory, but that is no longer the case.
He pointed out that investors were previously hesitant to enter the XRP market due to the SEC’s initial classification of the asset as a security, leading many to believe XRP would never take off. With the court later ruling that XRP is not a security, BitBoy believes there are no longer regulatory obstacles hindering XRP.
“The case is over. It doesn’t matter if there’s an appeal,” he emphasized. Furthermore, he argued that with a clear regulatory path, “XRP is the chosen institutional vehicle,” suggesting that deep-pocketed investors would feel confident investing in XRP without fear of legal implications.
XRP Will Not Hit $10 in One Go
Meanwhile, in a separate commentary, Farina expressed his disagreement with the view that XRP could surge to $10 in one fell swoop. He believes XRP will first approach $10, then “instantly dump” to around $5.
According to Farina, this drop would shake out retail investors and potentially create a supply shock before rebounding aggressively.
XRP “Will” Massively Outperform Bitcoin and Ethereum
Armstrong went further to assert that XRP will outperform both Bitcoin and Ethereum, emphasizing that it will significantly surpass Ethereum. This perspective aligns with his earlier commentary this month. Then, BitBoy claimed XRP would overtake Ethereum to become the second-largest crypto asset, with a price target between $16 and $22.
He attributes XRP’s potential rise to its unique role in the market, particularly in cross-border liquidity. Conversely, BitBoy asserted that Ethereum would face intense competition in the smart contract space, supposedly hindering its bull run.
Armstrong recalled that XRP had flipped Ethereum in the past and argued that current market dynamics favor XRP for substantial growth, bolstered by factors such as banking partnerships and potential ETFs.