- Oliver Michel predicts XRP price could reach $10, with strategic selling and buying points planned.
- XRP CAPTAIN’s tweet about a bullish breakout pattern fuels community optimism towards a $1 target.
XRP has emerged as a beacon of potential amidst the tumultuous market waves. Oliver Michel, the visionary founder and CEO of Tokentus Investment AG, a Frankfurt-based venture capital firm with a keen focus on blockchain technology, has recently shared his bullish outlook on XRP, sparking conversations and excitement within the crypto community.
This was even more polished with Satoshi Nakamoto praising Ripple (XRP) as a groundbreaking currency paradigm, per ETHNews’s earlier announcement.
Legal Hurdles vs. Optimistic Outlook
Michel, in an enlightening interview with Der Aktionär, a leading German finance magazine, expressed his anticipation of XRP’s value soaring to unprecedented heights. He boldly predicts that XRP could reach the $10 mark, a figure that would represent a significant leap from its current standing.
His strategy includes a tentative plan to sell when XRP hits $5, a price point that would mark a tenfold increase from its current valuation. Further into the future, Michel envisions a scenario where XRP could scale to three or even four-digit values, planning strategic sell and buy-back points to maximize potential gains.
Despite the shadow cast by ongoing legal challenges, including a high-profile lawsuit from the U.S. Securities and Exchange Commission (SEC), Michel’s optimism remains unshaken. He sees XRP as playing a crucial role in the infrastructure of central bank digital currencies (CBDCs) and as a linchpin in cross-border payments, a sector ripe for disruption.
Michel’s confidence is not just speculative; it’s rooted in a deep belief in Ripple Labs’ mission and capabilities. Ripple, the company behind XRP, is lauded for its innovative approach to reducing the time and cost associated with international money transfers, providing a much-needed alternative to the traditional banking system.
The Technical Breakout: A Community’s Hope
This sentiment is echoed in the crypto community, notably by a popular XRP enthusiast, XRP CAPTAIN, whose recent tweet highlighted a significant technical breakthrough.
BREAKING 🚨🚨 #XRP BREAKOUT CONFIRMED 💥💥🚀🚀🚀 pic.twitter.com/u85MzU7fRl
— XRP CAPTAIN (@UniverseTwenty) February 29, 2024
According to XRP CAPTAIN, XRP has successfully broken out from a symmetrical triangle pattern on its three-day chart, a bullish indicator that often precedes substantial price movements. This technical milestone has galvanized supporters, with many setting their sights on the $1 target as an immediate goal for short term.
At the time of writing, the price of XRP has slightly risen 0.04% in the last 24 hours, reaching a price of $0.5930. This represents an increase of 10.62% over the past 7 days.