Famous crypto commentator Ben “BitBoy” Armstrong reiterates his long-standing bullish perspective on XRP, suggesting that investors might regret their current investment decisions.
In a recent post on X, Armstrong asserted that in five years, today’s XRP investors will wish they had accumulated more tokens. This perspective rests on his belief in the long-term prospects of the seventh-largest cryptocurrency.
XRP trades around $0.5393 today, but optimistic market commentators like BitBoy believe the asset could be worth significantly more by the end of the decade. Major factors influencing his optimism include the introduction of XRP ETFs and Ripple’s anticipated initial public offering (IPO).
BitBoy’s Optimistic Price Targets for XRP
In a statement in July 2023, BitBoy argued that XRP could see its value rise to $15 or even up to $35, depending on the timing of Ripple’s IPO.
In another analysis in August, he projected that XRP could achieve a valuation of over $6 trillion, which would correspond to a market price of approximately $60.
His latest bullish commentary on XRP follows one from last week when he encouraged crypto enthusiasts to pay close attention to XRP, warning that it could be the top-performing crypto asset of the season.
Notably, in this recent post, BitBoy did not provide a specific target for XRP by 2029. He merely expressed his belief that investors could regret not holding more XRP than they currently do. The post has attracted mixed reactions from community members.
While some agree that XRP’s five-year outlook is promising, others argue that XRP’s historical patterns do not support this claim. In particular, one commenter noted that they bought XRP five years ago, and since then, the price has not improved, suggesting the next five years may not be as promising as BitBoy suggests.
I bought xrp from 5 years ago and it’s the same price
— Ben (@kcryptoinvest) October 10, 2024
XRP Price Action in the Last Five Years
On October 11, 2019, XRP opened for trading at $0.2721, reaching an intraday high of $0.2759 and closing at $0.2711. Fast forward to today, XRP is priced at $0.5393, reflecting a five-year gain of 98.93%.
In comparison, Bitcoin was valued as low as $8,316 five years ago but is now worth $61,012, resulting in an impressive five-year return of 633%. Looking at other altcoins, Ethereum boasts an even more commendable five-year gain of 1,220%, trading at $2,410 today, compared to $181 in October 2019.
Essentially, while XRP’s price action over the last five years may be less impressive, market watchers believe the coming half-decade could hold greater promise.