Top trader Ben Armstrong unveils 5 reasons XRP to $10 is imminent
Popular crypto analyst Ben Armstrong shares with his subscribers 5 reasons XRP is sitting on the sidelines for one of the most historic bull runs in the history of crypto.
Reason 1: Ripple’s worldwide coverage
According to Armstrong, Ripple has been busy making deals with international partners as they handle the legal obstacles in the US. Over the past few months, the market has seen Ripple seal numerous deals with banks overseas who plan on using Ripple’s on-demand liquidity (ODL) service to improve cross-border transactions.
“With ODL, banks can use XRP as a bridge currency to radically improve the speed and efficiency of international payments.”
The crypto KOL points out that this product is the XRP Army’s secret weapon because it solves a huge problem in the traditional banking system and forces banks use to XRP if they want to improve their services.
“With Ripple’s ODL service, banks and payment providers will be able to use XRP to send value across borders without exchanging currencies. This will also allow for nearly instant settlement times, something that is physically impossible under the current system, which usually requires a few days for processing, and sometimes, it even takes much longer than that.”
Reason 2: CryptoSpend
The trader highlights that this week, XRP would be included among the approved currencies for a Visa-backed project called CryptoSpend, which allows customers to spend their crypto at various merchants.
“If Ripple achieves mainstream adoption in these markets, it will send the price of XRP way past $10.”
Reason 3: Mass Adoptions
Reason 4: Flare Network
Another factor to consider is the Flare Network, “which many people have forgotten about because that long-awaited airdrop still hasn’t come yet.” According to Armstrong, a lot of progress has been made behind the scenes over the past year though, and things have been going very well on Flare’s canary network Songbird.
Reason 5: End of Ripple lawsuit
The end of the current legal case against Ripple will probably be XRP’s biggest catalyst. The trader says that XRP’s price has been suppressed for the past year because it was delisted from most major exchanges after the SEC announced the case against Ripple.
“If XRP does get relisted on major exchanges, the price will explode! And it will start to get all that positive media attention that it did during the last cycle.”