BitBoy, a well-known cryptocurrency analyst and commentator, has expressed his bullish sentiment regarding XRP, the cryptocurrency issued by Ripple Labs. In a recent tweet, BitBoy stated that he expects a victory for Ripple in its ongoing legal battle against the United States Securities and Exchange Commission (SEC).
BitBoy took to Twitter on Wednesday to express his views, invoking a well-known quote attributed to various individuals, including philosopher Seneca. He stated that the conclusion of the Ripple v SEC case would mark the end of one chapter and the beginning of another.
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The @ripple case could end literally any day. When one thing ends, it’s the beginning of something new.
In this case, the new thing is you getting rich if you stuck with $XRP and the #XRPArmy. It’s about time to get your rations.
— Ben Armstrong (@Bitboy_Crypto) April 12, 2023
BitBoy Is bullish Regarding XRP
According to him, the next chapter to begin is the generation of significant wealth for XRP investors who persevered through the lengthy legal proceedings with the SEC. He encouraged the XRP Army to stay the course, claiming that the time to reap the rewards of their commitment was close.
The SEC filed a lawsuit against Ripple Labs in December 2020, alleging that the company had conducted an unregistered security offering by selling XRP tokens to investors. Ripple has vigorously denied these allegations and has argued that XRP is not a security but rather a cryptocurrency like Bitcoin and Ethereum.
Since the lawsuit was filed, the price of XRP has been negatively impacted, with several exchanges delisting the token from their platforms. However, BitBoy believes the tide may be turning in Ripple’s favour.
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In his tweet, BitBoy stated that “I’m bullish on XRP. I think Ripple will win against the SEC. This lawsuit is nothing but a shakeout. XRP will go higher than it’s ever been.”
While the outcome of the lawsuit is still uncertain, BitBoy’s comments reflect the sentiment of many XRP investors who believe that the SEC’s case against Ripple is weak and that the company will ultimately prevail.
It is worth noting that BitBoy is not the only cryptocurrency commentator bullish on XRP. Several other analysts and influencers have also expressed optimism about the token’s prospects.
As of this writing, the price of XRP is hovering around $1.60, up from its low point of around $0.17 in December 2020. The cryptocurrency market as a whole has been experiencing a period of bullishness, with many tokens reaching new all-time highs in recent weeks.