Renowned cryptocurrency influencer Ben “BitBoy” Armstrong declared a bullish prediction for the XRP token despite the SEC potentially filing an appeal to the XRP ruling.
The crypto pundit remains bullish on the fourth-largest crypto asset’s projected buying momentum. His response tallied with Ripple maximalist attorney John Deaton, who believes an appeal ruling could last up to two years.
No One Fears Legal Proceedings for XRP
BitBoy’s perspective of the crypto asset’s projected direction wasn’t only based on the long appeal procedures alone; Ripple has also been listed on many exchanges.
This means bullish through the bull run no matter what. $XRP has been relisted on exchanges and no one is scared
— Ben Armstrong (@Bitboy_Crypto) July 24, 2023
This implies the crypto community’s confidence and lack of fear amid legal proceedings. According to the crypto pundit, “No one is scared.” Ripple was relisted on several US-based cryptocurrency exchanges shortly after Ripple Labs’ win against the SEC in early July.
The United States Judge Analisa Torres ruled, on July 13, that sales of Ripple to retail investors across exchanges do not constitute securities. BitBoy isn’t alone in his optimistic view on XRP’s price direction, as many other Ripple maximalists maintain their bullish stance regarding the crypto asset’s future.
Specifically, a popular XRP influence, Crypto Asset Guy, commented on BiBoy’s tweet, stating that the coin will record a new all-time high (ATH) price during 2023 Q4.
Furthermore, Scott Melker, a pro-Bitcoin cryptocurrency influencer, explained that despite the SEC filing an appeal at the Ripple Labs and obtaining a decision, XRP would remain in its non-security status for at least two years.
Following Ripple’s partial victory against the Securities and Exchange Commission (SEC), several US-based centralized crypto exchanges related to the coin.
These exchanges include Bitstamp, Kraken, Crypto.Com, Bitstamp, Coinbase, and Gemini. The exchanges announced on their Twitter accounts or official blogs about relisting the fourth-largest coin.
Some May be Skeptical About Investing in XRP
Conversely, while BitBoy and many crypto pundits and influencers are optimistic about the bullish run of XRP, not everyone has the same perspective on the coin.
A Twitter user named Shawn expressed concerns that investors and financial institutions may be hesitant to fully commit to XRP if a notable lawsuit is stalled for the next two years.
I beg to differ. What institutions & investors are gonna go all in on a finance mechanism if there is a major court case looming in the next 2 years??
Company accountants & lawyers are not gonna give #XRP the green light to the firm’s they represent @JohnEDeaton1
— Shawn™ 🇷🇺 🇺🇲 🇬🇧 (@TheShadowPrezz) July 24, 2023
Shawn stressed that firm lawyers and accountants, key players in the decision-making, may prefer to be risk-averse on the case. He noted that they would probably be careful about notifying that their companies would venture into XRP.
US attorney and pro-XRP advocate John Deaton replied to Shawn, stating that many leading US-based exchanges would not have featured the XRP token if these measures were implemented.
Under that rationale there would’ve been no Re-listings by all the exchanges. But I agree Banks are more conservative.
— John E Deaton (@JohnEDeaton1) July 24, 2023
The lawyer affirmed that banks and many other institutions might be more conservative.
