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A popular crypto influencer, Ben Armstrong, a.k.a BitBoy, has shared his views in a YouTube video expressing bullish sentiments about XRP. Armstrong believes XRP will kickstart another bull run after the upcoming summary judgment. His recent prediction hinges on a summary judgment in favor of XRP.
Every avid crypto participant knows that the SEC vs. Ripple summary judgment will impact the industry. If the SEC wins, more crypto assets will fall under its jurisdiction. But if Ripple wins, it becomes the first crypto asset with regulatory clarity changing the narrative for many other assets. Notably, BitBoy believes that if there’s a settlement, XRP will soar.
Bitboy Cites Reasons For Picking XRP
BitBoy mentioned in his latest video that the long battle might end in June or July, given the closing trial calendar. He also agreed that Judge Torres might deliver the summary judgment anytime before then.
Further, he reiterated that XRP could only kickstart a bullish trend if Ripple wins the battle through an outright win or settlement. But in BitBoy’s opinion, settlement is preferable for Ripple to avoid any further appeal from the commission, which will prolong the legal pressure on the altcoin.
Bitboy believes that if the win comes through a settlement, the chances of XRP soaring will increase. The altcoin will become a unique asset since it’ll be the only one declared “non-security” after the tedious trial.
But, some top shots have expressed that a ruling will be the decision, not a settlement. According to the Chief Legal Officer (CLO) at Coinbase, Paul Grewal, a ruling will be the outcome that will trigger an appeal from the SEC.
Also, CryptoLaw founder representing Ripple holders John Deaton shared the same view stating that the case will not end in a settlement between the two parties.
XRP Will Soar Following Exchange Relisting
Another reason Bitboy said it would push the XRP price was if top exchanges such as Coinbase relist it. Notably, after the SEC’s case filing, many crypto exchanges delisted XRP from their platforms, causing a price crash during that period.
But during the video, the influencer stated that if these exchanges relist the altcoin after Ripple wins, the price will soar again.
This is not the first time the influencer shared such beliefs. On April 4, he posted the same stance on Twitter, stating that XRP will lead the next bull run if it wins without a possibility of an appeal from the SEC. Also, on April 13, Bitboy stated XRP would soon make investors rich, so they should stick with it.
Notably, the XRP price is still firm on the $0.5 level it attained on March 29. Also, it is still holding on to its seven-day price gain showing a 0.19% increase in 24 hours. It’s hard to predict its possible move in the coming weeks until the upcoming summary judgment.
Featured image from Pixabay and chart from Tradingview
