Olivier Michelfounder and CEO of Germany-based venture capitalist Tokentus Investment AG, has made a bullish price prediction for the XRP price. According to him, XRP could reach $10 soon enough.
XRP price to $10 is just the beginning
Michael named during an interview with Der Aktionär, a leading German financial magazine, that he expects XRP to rise to between $5 and $10 in the first wave of his parabolic movement upwards. Interestingly, he added that XRP would eventually hit three to four figures, but that didn’t happen seem concerned about the current price action of XRP.
Meanwhile, Michel revealed that he has invested in the XRP tokens as he has them in his family office as well as his company, Tokentus. The same goes for Ripple shares, which he says he bought through an SPV (Special Purpose Vehicle).
Michel is no stranger to the XRP ecosystem, given his business partnered with Ripple last year in an effort to grow and increase adoption of the XRP Ledger (XRPL). During the interview, Michel also gave his opinion on Ripple as a “professional company” and sounded so optimistic about what the crypto company was building with its Payment service.
He took the opportunity to further explain how Ripple simplified cross-border transactions using the XRPL and XRP tokens. Ripple is known to settle these transactions via its blockchain, with XRP serving as the utility token and these XRP tokens then being converted into the fiat currency of the recipient’s choice.
XRP Becomes the ‘World Reserve Bridge Currency’
Michel stated that XRP could become the “world reserve bridge currency” once countries implement their CBDCs (Central Bank Digital Currencies). Ripple’s XRPL is already recommended as the chain for CBDC settlements. The crypto company had also turned out that they were already actively working with more than twenty central banks on CBDC initiatives.
The Tokentus founder also believes it won’t be long before others Central banks falling back on Ripple to help them implement their CBDCs. He noted that pressure is mounting on these banks to act now to prevent an impending economic collapse. XRP is expected to play an integral role when all this happens.
It looks like Ripple’s XRPL will also act as an intermediary between all these CBDCs when the time comes. Bitcoinist once reported how the network’s chargeback feature increases the prospects of CBDCs being implemented on it.
At the time of writing, XRP is trading around $0.58, down over 1% in the past 24 hours. facts from CoinMarketCap.
XRP at $0.58 | Source: XRPUSD on Tradingview.com
Featured image from Analytics Insight, chart from Tradingview.com
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