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XRP has made news for more reasons than just being one of the most popular cryptocurrencies on the market. The SEC case caused such a commotion that it sent ripples (no pun intended) across the ecosystem. As a result of Bitcoin regaining control of the crypto-space, XRP received some much-needed exposure.
Does this mean that XRP is about to become one of the faces of cryptocurrencies once again, however? If so, how? Well-known trader and analyst BitBoy Crypto shared his thoughts on the same in a recent video.
XRP to become the next big thing?
XRP is set to “blast off” before the end of this year, according to BitBoy Crypto. While he did not specify a price, the $0.7 – $1 range appears to be a possibility. According to him, the SEC action that Ripple Labs is now facing is a “blessing in disguise.” Even while XRP received some criticism at first due to a lot of FUD, it quickly recovered much of its value as the case progressed.
Central banks all across the world have been seeking for ways to use XRP once the SEC storm has passed. BitBoy Crypto remarked on the same, saying,
“The banking cartel has decided that they want XRP to be the token, to be the settlement coin, to be the payment settlement coin for central banking system (sic).”
Such developments correspond to Ripple Labs making some big moves to bump up its services and safeguard the future of the XRP ecosystem. Recently, Ripple hired former Mastercard executive Sandi Young as the Managing Director of its European operations. Furthermore, its recent investment in Mintable, an up-and-coming NFT minting platform and marketplace, hints at something huge too. Only time will tell what that is.
Bitcoin Whales Breach
According to BitBoy Crypto, once the manipulation by “Muskrat” has stopped, the Bitcoin market has been gaining momentum. This is also evident in the numbers, as whales have suddenly begun to accumulate massive amounts of food.
July began with the largest daily increase in whale movement ever, with 60,000 BTCs accumulated in a single day. These whales have purchased over 100,000 BTC in the previous six weeks. The Bitcoin millionaires now have 9.12 million coins in their possession. This, according to the expert, is a hint that the second leg of the bull run is on its way.