XRP Could Be the Top-Performing Crypto Asset of This Cycle: BitBoy

Crypto personality Ben Armstrong, also known as BitBoy, has asserted that XRP could be the top-performing crypto asset of this cycle.

Ben Armstrong, popularly known as BitBoy, has boldly predicted that XRP could emerge as the top-performing crypto asset of the present cycle.

BitBoy shared his optimism through his X account on Thursday, highlighting two key factors that support his XRP price prediction.

BitBoy Predicts XRP to be the Top Performer This Cycle

The first factor mentioned by BitBoy is the potential impact of the Bitwise XRP ETF, which is currently in development. As reported earlier, the prominent asset manager submitted an application on Wednesday to list an XRP ETF with the U.S. regulator.

BitBoy emphasizes that the XRP ETF could be a pivotal moment that the community has been eagerly awaiting. According to him, those who aren't paying attention to XRP now will soon take notice as the effects of the XRP ETF begin to unfold.

Bitwise XRP ETF in the works —this could be the game changer we’ve been waiting for. If you’re not paying attention to XRP now, you will be soon.

— BitBoy (@BenArmstrongsX) October 3, 2024

Additionally, Armstrong is banking on Ripple’s plans to go public via an IPO as another major bullish factor in XRP’s potential this cycle. The idea is that Ripple becoming a public company would expose XRP—an asset closely associated with Ripple—to a larger pool of investors.

Some industry pundits have argued that Ripple’s IPO alone could drive XRP's market value to reach as high as $10 in the near future. However, it is important to note that Ripple has stated that going public is not an immediate priority.

Moreover, Ripple’s lawsuit with the SEC is resuming, as the regulator issued a notice for an appeal, further delaying the prospect of an IPO

Interestingly, the SEC’s motion to appeal came just a day after Bitwise launched its application for the XRP ETF. Some online commentators have suggested that the SEC’s action has weakened the chances of approval for the XRP ETF, though proponents of the ETF disagree with this view.

Despite the hampering developments, Armstrong remains optimistic, believing that approval of the XRP ETF and Ripple’s IPO could make XRP the best-performing token of this cycle.

First: $XRP: It’s set to dominate world banking. ETF approval and Ripple IPO could make XRP the #1 coin of this cycle.

— BitBoy (@BenArmstrongsX) October 3, 2024

XRP Historical Performance

It's worth noting that historically, in the 2017/2018 cycle, XRP was one of the best-performing crypto assets, delivering a mind-boggling return of over 75,000% to investors in just one year.

However, in the current cycle, XRP is among the worst-performing tokens. Proponents are hopeful that these crucial impending developments will serve as the catalyst that drives XRP to new heights.