- CEO of Tokentus Investment AG predicts that XRP could hit $10, vows to sell at least two times and buy back before the next wave.
- Forbes contributor also expects XRP to stage a rally following the $150,000 Bitcoin price prediction.
Ripple’s XRP is reported to be ready to spiral as its market sentiment flipped to bullish overnight marked by a 5.9% surge in just 24 hours. According to market data, the asset has extended its weekly growth to 15%, positioning its price at $0.625033.
Interestingly, Oliver Michel, founder and CEO of Tokentus Investment AG believes that XRP could break a multi-year resistance level to hit $10. In an interview with German finance magazine Der Aktionär, Michel is cited to have admitted that he owns some number of XRP.
According to him, he would only be ready to sell when the price reaches $5. Per his observation, XRP could hit a three or four-digit price level. In this case, he plans to sell at least twice and buy back before the next bull cycle.
Confidence in XRP took a significant downturn following the announcement of the court case between Ripple Labs and the US Securities and Exchange Commission (SEC). Though Ripple got a partial victory, SEC is not ready to bow out as it puts its last coin on an appeal as extensively covered by Crypto News Flash.
Regardless of the outcome, Michel is very optimistic about the potential of the asset. His bet on XRP as deduced from the interview with Der Aktionär is largely motivated by the recent role of the asset in cross-border payments and the development of Central Bank Digital Currency (CBDC).
Forbes Contributor Believes XRP Price Move Depends on Bitcoin’s Performance
The bullish potential of XRP is agreed upon by several experts including Forbes senior contributor Billy Bambrough. According to him, XRP could benefit from Bitcoin’s $150,000 projection as seen from the historical charts. In the past six months, Bitcoin has surged by more than 100%, hitting a yearly high of $64k. Within the same period, XRP surged by 26%, moving from $0.4744 in September 2023 to $0.6.
Bambrough believes that the recently approved spot Bitcoin Exchange-Traded Fund has been the primary catalyst for this broad market move as it opens the ecosystem for mass adoption.
$150,000’ By 2025—Bitcoin Braced For An ‘Unprecedented’ Wall Street Price Earthquake After Breaking $60,000, Boosting Ethereum, XRP And Crypto.
He further cited the involvement of BlackRock in the ETF market as a main driving factor for Bitcoin to hit $150k. The analyst explained that the potential move of Bitcoin from the current price level to $150,000 would represent a 140% surge. Applying the same degree of movement to XRP could position the asset at $1.43. According to the analyst, this price target is feasible as XRP once crossed that level to hit $3.4.
Another driving factor that could propel the price to the predicted level is the recently launched XRP Exchange Traded Product (ETP) by Valour Inc. Citing an earlier statement from Crypto News Flash, the XRP ETP commenced on February 21, 2024. Its merits to the ecosystem include the provision of direct exposure to investors through banks or brokers securely.
