Oliver Michel, who started and leads the German company Tokentus Investment AG, believes the price of XRP will go up a lot. As per his statement, XRP to 10 dollars before long.
XRP To 10 Dollar Price Target: Just the Tip of the Iceberg
In an interview with Der Aktionär, a top German finance magazine, Michel shared his expectations for XRP. He believes that in the initial stage of its upward trend, XRP could reach anywhere between $5 and $10. He also mentioned that XRP is reaching values in the thousands. This shows confidence despite its price fluctuations.
Michel disclosed that he holds XRP tokens personally, both in his family office and through his company, Tokentus. He also invested in Ripple shares via a Special Purpose Vehicle (SPV).
During the past year, we partnered with Ripple to boost the use of the XRP Ledger (XRPL). Michel expressed admiration for Ripple as a “professional company” in the interview. He was very bullish about Ripple’s payment service. It will simplify cross-border transactions.
Ripple settles these transactions using its blockchain. XRP is the utility token. It is then converted to the recipient’s preferred fiat currency.
XRP: The Preferred Global Bridge Currency
Michel said that XRP could become the “world reserve bridge currency.” He said this would happen once countries introduced their Central Bank Digital Currencies (CBDCs). Ripple’s XRP Ledger (XRPL) is already being considered as the main platform for CBDC settlements.
The crypto company also shared that they were actively collaborating with over 20 central banks on CBDC projects.
The founder of Tokentus thinks that other central banks will ask Ripple for help with their CBDCs soon. He said these banks feel pressured to act to prevent an economic downturn, and XRP will be important for this.
Ripple’s XRP is expected to link all these CBDCs in the future. Bitcoinist explained how the network’s clawback feature could help CBDCs join it.
XRP is trading around $0.58 at the time of writing and has decreased by over 1% in the last 24 hours.
