The potential of XRP to be a top performer in the next bull run has been one that has been widely discussed in the crypto space. The token’s growth which was stunted in the 2020-2021 bull run due to Ripple’s fight with the United States Securities and Exchange Commission (SEC) seems to be back on a good trajectory and is expected to carry on into the upcoming bull run. One crypto analyst in particular, Ben Armstrong, has given reasons why the XRP price will lead the market gains in the bull market.
XRP Is Primed To Lead The Bull Run
Crypto analyst Ben Armstrong, popularly known in crypto spaces as BitBoy Crypto, has listed the reasons that he believes the XRP token will be a market leader in the next bull run. The next bull run is expected to take place between 2024 and 2025, and Armstrong expects a strong performance from XRP this time around.
Speaking about the token’s potential in a YouTube video, the analyst points to a number of factors including the token’s team and the community, among other things, as being the things that will drive this growth. This is not surprising given that Ripple’s founders, which is the issuer of the XRP token, have continued to be some of the most prominent builders in the crypto industry.
Given that the token did not see the expected growth trajectory in the 2020-2021 bull market, the analyst believes that the next bull run could be the time when the token shows its teeth. Pointing to the 2017 bull market where the XRP price outperformed, Armstrong explained that the token could repeat a similar price rally.
Token price sitting at $0.6 | Source: XRPUSD on Tradingview.com
However, there are still a lot of concerns about the token’s ability to repeat such a performance. Most of the concerns stem from the fact that 50% of the XRP supply is still controlled by Ripple. However, Armstrong addresses the concerns explaining that this move by the company could actually be in the favor of investors.
Also, Armstrong points to the fact that the crypto firm is almost at the end of its battle with the SEC after notching a couple of partial victories against the regulator in the past year. Expectations are that the adoption of XRP by institutions will ramp up once this happens, and the analyst believes that this adoption would contribute to the growth of the XRP token.
Armstrong isn’t the only analyst who expects the XRP token to outperform in the coming bull cycle. Crypto analyst FeiryTrading has consistently maintained that the token’s price has the potential to cross the double-digit threshold, expecting an explosive 7,000% rally for the altcoin.