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- Ben Armstrong believes XRP will be among the top performers in the next bull cycle.
- Armstrong’s belief is influenced by XRP’s properties, the power of its community, and its tendency to attract developers and investors.
- According to Armstrong, XRPL is permissionless and as decentralized as most other layer-1 networks.
Ben Armstrong, a renowned cryptocurrency influencer, believes XRP would be among the top performers in the next bull cycle, considering the token’s properties, the power of its community, and its tendency to attract developers and investors.
The blockchain analyst started by debunking rumors that XRP is centralized. Citing the XRPL, the community-based blockchain protocol behind XRP, Armstrong noted that it is a blockchain that is permissionless and as decentralized as most other layer-1 networks that it is competing against.
In a recently uploaded video, the crypto influencer explained that the most crucial part of the XRPL is the native token, XRP. According to Armstrong, the XRP token separates XRPL from other layer-1 protocols and smart contracts.
In line with the blockchain’s properties that would promote adoption, Armstrong noted that decentralized exchanges, non-fungible tokens (NFTs), and digital securities can be deployed on the XRPL network. According to the influencer, there are discussions about the network hosting a central bank digital currency (CBDC). However, he made clear his lack of support for CBDCs.
On the subject of CBDCs, the crypto influencer foresees a future where the established banking systems will push for them, while the crypto community may not be able to do much about it. He thinks the best approach by the crypto community would be to “swim with the whales” and try to benefit from the trend when CBDCs become mainstream.
Armstrong cited XRP’s historical gains, especially the crypto token’s performance during the 2017 bull run. He noted that XRP skyrocketed by 36,000% between January and December 2017. As a result of this and other factors, he believes the fifth-ranked cryptocurrency by market capitalization will be among the top performers in the next bull cycle.
Some of the factors Armstrong mentioned that support XRP’s growth include the actions of the XRP community, otherwise known as the XRP army. Moreover, he added that developers and investors looking for trusted networks would likely turn to XRP as their preferred solution.
Armstrong added that XRP’s legal clarity is ahead of any other project in the crypto space. Hence, that could be an advantage for the token, with users interested in regulatory clarity.
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