Ben Armstrong, a prominent figure in the crypto space, has argued XRP’s potential to grow by 1,135%.
In a recent YouTube video, Armstrong projected impressive XRP and Solana (SOL) price outlooks in the emerging bull season. Specifically, he envisioned XRP hitting $7 in the bull market.
Considering XRP’s market value around $0.5665, this bullish forecast translates to a 1,135% growth.
On the other hand, Armstrong set a target of $1,000 for Solana (SOL), specifically noting the price point is attainable in 2024. This target represents a 952% growth rate from Solana’s current value of around $95.
Furthermore, Armstrong expressed confidence in these predictions, emphasizing that the ambitious figures might not even represent the peak for these digital assets.
XRP and Solana in this Bull Run
Moreover, the analyst highlighted the proximity of the multiplier factors to provide further insight into the basis of the $7 and $1,000 projections.
He noted that XRP’s path to $7 implies an 11 to 12-fold increase. Likewise, Armstrong pointed out that Solana’s journey from $101 to $1,000 requires a similar tenfold increase in price.
Meanwhile, Armstrong highlighted a key contrast between XRP and Solana in the current bull run. He emphasized that Solana has undergone a significant surge, describing its current figures as inflated.
Note that SOL has grown from a low of $13 to as high as $121 last year. Despite its recent dip below the $100 threshold, the asset is still up 630% since January 2023.
However, XRP has not experienced a comparable astronomical gain for holders.
Why an XRP $7 is Likely Programmed
Armstrong anticipates a steady rise for XRP, projecting its peak to align with Ripple’s upcoming initial public offering (IPO). He envisions significant excitement and potential fireworks surrounding XRP when the Ripple IPO is launched.
Besides, the analyst argued that the successful launch of an Ethereum ETF would further create a bullish case for XRP.
He theorized that with a live spot Ethereum ETF, market participants would begin searching for the next promising cryptocurrency to receive a spot ETF. XRP, being the only altcoin with U.S. regulatory clarity, positions it as the next option.
As a result, Armstrong expressed confidence that an XRP price of $7 is attainable toward the end of the coming bull market.
