In an interview with a leading German finance magazine, Oliver Michel, the CEO of Tokentus Investment AG, a blockchain-focused venture capitalist firm, expressed his bullish prediction for the XRP price. Michel anticipates XRP reaching between $5 and $10 in the initial wave of its upward movement, with expectations of hitting even higher figures eventually.
Michel, who has investments in XRP tokens both personally and through his company, highlighted the potential of XRP and Ripple in simplifying cross-border transactions. He emphasized that Ripple’s XRPL and XRP tokens play a crucial role in streamlining international transactions.
Furthermore, Michel suggested that with the increasing adoption of Central Bank Digital Currencies (CBDCs), XRP could evolve into the “world reserve bridge currency.” Ripple has been actively working with numerous central banks on CBDC initiatives, positioning XRPL as a key player in CBDC settlements.
FAQs
1. What is the price prediction for XRP by Tokentus Investment AG’s CEO?
The CEO, Oliver Michel, forecasts that XRP could hit between $5 and $10 in the near future, with potential to reach even higher values over time.
2. How is Ripple involved in the development of Central Bank Digital Currencies (CBDCs)?
Ripple has been collaborating with over 20 central banks on CBDC initiatives, positioning their XRPL as a leading platform for CBDC settlements, according to Oliver Michel.
3. What role does XRP play in facilitating cross-border transactions?
XRP serves as the utility token on Ripple’s XRPL, enabling seamless and efficient conversion of XRP tokens into the fiat currency of the recipient’s choice, simplifying cross-border transactions.
As XRP continues to trade around $0.58, Michel’s optimistic outlook on its future potential underscores the ongoing developments in the cryptocurrency space, especially in regard to CBDCs and cross-border transactions.