**XRP Price Prediction: XRP to Reach $10 and Beyond**
Oliver Michel, the founder and CEO of German-based venture capitalist firm Tokentus Investment AG, has made a bullish price prediction for XRP. He believes that XRP could reach $10 in the near future, with even higher prices in the long term. Michel is confident in XRPโs potential and is personally invested in the cryptocurrency.
**Bullish Outlook for XRP Price**
Michel expressed his optimistic view on the XRP price during an interview with Der Aktionรคr, a leading German finance magazine. He expects XRP to rise to between $5 and $10 in its initial upward movement. Additionally, he believes that XRP could eventually reach three to four figures, indicating prices in the hundreds or thousands of dollars.
Michelโs confidence in XRPโs potential is evident as he does not seem concerned about the current price action of the cryptocurrency. He sees the current price as just the beginning of a parabolic move to the upside for XRP.
**Investment in XRP Tokens and Ripple Shares**
In addition to his positive outlook on XRP, Michel disclosed that he has invested in XRP tokens both personally and through his company, Tokentus. He also holds Ripple shares that were acquired through a Special Purpose Vehicle (SPV). This demonstrates his belief in the future success of Ripple and its associated digital asset.
**Partnership with Ripple and Confidence in Rippleโs Vision**
Michelโs familiarity with the XRP ecosystem is not surprising given that his company partnered with Ripple last year. The partnership aimed to promote the growth and adoption of the XRP Ledger (XRPL). During the interview, Michel praised Ripple as a โprofessional companyโ and expressed enthusiasm for its payment service.
He elaborated on how Ripple simplifies cross-border transactions using XRPL and XRP tokens. The blockchain settles these transactions, with XRP serving as the utility token. The XRP tokens are then converted into the desired fiat currency of the recipient. Michel sees this process as a significant advancement in facilitating international transactions.
**XRP as the โWorld Reserve Bridge Currencyโ**
Michel believes that XRP has the potential to become the โworld reserve bridge currencyโ once countries start implementing their Central Bank Digital Currencies (CBDCs). Rippleโs XRPL is already being recognized as the go-to blockchain for CBDC settlements. Ripple has been actively collaborating with over 20 central banks on CBDC initiatives.
As pressure mounts on central banks to adopt CBDCs and prevent economic collapse, Michel predicts that many will turn to Ripple for assistance. He sees XRP playing a crucial role in facilitating CBDC implementation.
**XRPL as an Intermediary for CBDCs**
Rippleโs XRPL is expected to serve as an intermediary between various CBDCs when they are implemented. The networkโs clawback feature enhances the prospects of CBDCs being integrated into XRPL. This feature ensures security and stability for CBDC transactions.
**Current XRP Price**
At the time of writing, XRP is trading at around $0.58, experiencing a slight decline of over 1% in the last 24 hours. Despite this short-term fluctuation, Michel remains confident in XRPโs long-term potential.
**Hot Take: XRPโs Promising Future**
Oliver Michelโs bullish price prediction for XRP reflects his confidence in its potential for significant growth. With expectations of reaching $10 in the near future and even higher prices in the long term, he believes that XRP has just begun its upward trajectory.
As Ripple continues to partner with central banks and develop solutions for cross-border transactions, XRPโs role as a bridge currency becomes more prominent. The implementation of CBDCs is expected to further solidify XRPโs position as a global reserve currency.
While short-term price fluctuations are inevitable, Michelโs outlook on XRPโs future remains positive. As an investor in XRP tokens and Ripple shares, he is personally invested in the success of both the cryptocurrency and the company. With ongoing developments and partnerships, XRP has the potential to transform the world of finance.
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