Ben Armstrong, one of the most popular analysts in the crypto world with millions of followers, shared with his subscribers 5 reasons why XRP is on the edge of one of the most historic bull runs in crypto history.
Ripple’s Global Reach/Scope
According to Armstrong, Ripple is busy making deals with international partners despite dealing with legal issues in the United States. Over the past few months, the crypto market has witnessed Ripple sign multiple deals with overseas banks that plan to use Ripple’s on-demand liquidty (ODL) service to improve cross-border transactions.
“With ODL, banks can use XRP as a bridge currency to radically increase the speed and efficiency of international payments.”
The crypto strategist points out that this product is the XRP Army’s secret weapon because it solves a major problem in the traditional banking system and forces banks to use 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 changing their currency. This will also allow for near-instant payout times that are physically impossible in the current system, often taking a few days and sometimes even longer to process.”
CryptoSpend
The analyst also points out that this week, XRP will be among the currencies approved for a Visa-backed project called CryptoSpend, which will allow customers to spend their crypto at various merchants/merchants.
“If Ripple succeeds in mainstream adoption in these markets, it will skyrocket the price of XRP towards $10.”
Mass Adoption
Ripple released its quarterly XRP Markets Report last week, revealing that XRP Ledger saw 88.8 million transactions in the third quarter of this year. The total value of these transactions amounted to $69.3 billion.
Flare Network
Another factor to consider, according to Armstrong, is the Flare Network, which “many people forget because the long-awaited airdrop hasn’t arrived yet.” According to the analyst, a lot of progress has been made behind the scenes over the past year and things are going very well on Flare’s canary network, Songbird.
SGB, which is actually the Songbird network’s native token, will be airdropped to XRP holders who received the Flare snapshot last year.
End of Ripple Case
The conclusion of the current legal case against Ripple will likely be XRP’s biggest catalyst. The trader says that the price of XRP was suppressed last year because it was removed from most major exchanges after the SEC announced the lawsuit against Ripple.
“If XRP is relisted on major exchanges, the price will explode! And he will continue to get all the positive media attention he did in the last cycle.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.