XRP made the headlines for more reasons than just being one of the most popular cryptocurrencies out there. The SEC lawsuit caused such an uproar that it sent waves (no pun intended) across the ecosystem. After Bitcoin took responsibility for the crypto space again, XRP also gained much-needed importance.
However, does this mean that XRP will soon become one of the faces of cryptocurrencies again? If so, how? Well-known trader and analyst BitBoy Crypto shared their thoughts on the matter in a recently released video.
XRP is the next big thing?
BitBoy Crypto put it in simple terms that XRP will “blow up” by the end of this year. While he didn’t share his thoughts on the exact price, the range between $ 0.7 and $ 1 seems possible. In his opinion, the SEC lawsuit that Ripple Labs is currently facing was a “blessing in disguise”. Although XRP initially took in some flak due to a lot of FUD, it regained much of its value once the lawsuit went on.
Central banks around the world have been trying to leverage XRP’s use cases once the SEC storm is over. At the same time, BitBoy Crypto commented:
“The banking cartel has decided that XRP should be the token, the settlement coin, the payment settlement coin for the central bank system (sic).”
Such developments correspond with Ripple Labs taking some big steps to improve its services and secure the future of the XRP ecosystem. Recently Ripple rented Sandi Young, former manager of Mastercard, as managing director of European operations. Additionally, the recent investment in Mintable, an emerging NFT minting platform and marketplace, also suggests something big. Only time will tell what it is.
Bitcoin whale breach
According to BitBoy Crypto, the Bitcoin market has increased since it was manipulated by “Biskrat”. This is also evident in the numbers, because suddenly whales have started to accumulate huge numbers.
July started with the highest daily peak ever seen in whale movement as 60,000 BTCs accumulated in a single day. Over 100,000 BTC have been purchased from these whales in the past 6 weeks. This brought the BTC holdings of the Bitcoin millionaires to 9.12 million coins. According to the analyst, this is a sign that the second part of the bull run is coming soon.