CEO Of Blockchain-Focused VC Firm Predicts XRP Price Will Reach $10
March 01 2024 - 2:00PM
NEWSBTC
Oliver Michel, founder and CEO of German-based venture capitalist
firm Tokentus Investment AG, has given a bullish price prediction
for the XRP price. According to him, XRP could hit $10 soon
enough. XRP Price To $10 Is Just The Beginning Michel
mentioned during an interview with Der Aktionär, a leading German
finance magazine, that he expects XRP to rise to between $5 and $10
in the first wave of its parabolic move to the upside.
Interestingly, he added that XRP would eventually hit three to four
figures and didn’t seem worried about XRP’s current price
action. Related Reading: Dogecoin Rallies 50% To Beat Out
Avalanche, BONK Overtakes PEPE Meanwhile, Michel revealed that he
is invested in the XRP tokens as he has them both in his family
office and with his company, Tokentus. The same applies to Ripple
shares, which he stated he purchased through an SPV (Special
Purpose Vehicle). Michel is no stranger to the XRP ecosystem,
considering that his company partnered with Ripple last year in an
effort to grow and increase the adoption of the XRP Ledger (XRPL).
During the interview, Michel also offered his thoughts on Ripple as
a “professional company” and sounded so bullish on what the crypto
firm was building with its Payment service. He used the
opportunity to elaborate further on how Ripple was simplifying
cross-border transactions with the help of the XRPL and XRP tokens.
Ripple is known to settle these transactions through its
blockchain, with XRP serving as the utility token, and these XRP
tokens are then converted to the fiat currency of the recipient’s
choice. XRP To Become The “World Reserve Bridge Currency”
Michel stated that XRP could become the “world reserve bridge
currency” once countries implement their CBDCs (Central Bank
Digital Currency). Ripple’s XRPL is already being touted as the
go-to chain for CBDC settlements. The crypto firm had also revealed
that they were already actively working with more than 20 Central
banks on CBDC initiatives. Related Reading: Crypto Expert
Reveals Why Bitcoin Can Rise To $400,000 The Tokentus founder also
believes it won’t be long before other Central banks fall back on
Ripple to help them implement their CBDCs. He noted that the
pressure was piling up on these banks to act now to avoid an
impending economic collapse. XRP is expected to play an integral
role when this all happens. Ripple’s XRPL also looks set to
act as the intermediary between all these CBDCs when the time
comes. Bitcoinist once reported how the network’s clawback feature
boosts the prospects of CBDCs being implemented on it. At the
time of writing, XRP is trading at around $0.58, down over 1% in
the last 24 hours, according to data from CoinMarketCap. XRP
at $0.58 | Source: XRPUSD on Tradingview.com Featured image from
Analytics Insight, chart from Tradingview.com
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Jul 2024 to Aug 2024
Ripple (COIN:XRPUSD)
Historical Stock Chart
From Aug 2023 to Aug 2024