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CEO Of Blockchain-Focused VC Firm Predicts XRP Price Will Reach $10

Oliver Michel, founder and CEO of German-based venture capitalist firm Tokentus Investment AG, has given a bullish price prediction for the XRP price. According to him, XRP could hit $10 soon enough. 

XRP Price To $10 Is Just The Beginning

Michel mentioned during an interview with Der Aktionär, a leading German finance magazine, that he expects XRP to rise to between $5 and $10 in the first wave of its parabolic move to the upside. Interestingly, he added that XRP would eventually hit three to four figures and didn’t seem worried about XRP’s current price action. 

Meanwhile, Michel revealed that he is invested in the XRP tokens as he has them both in his family office and with his company, Tokentus. The same applies to Ripple shares, which he stated he purchased through an SPV (Special Purpose Vehicle). 

Michel is no stranger to the XRP ecosystem, considering that his company partnered with Ripple last year in an effort to grow and increase the adoption of the XRP Ledger (XRPL). During the interview, Michel also offered his thoughts on Ripple as a “professional company” and sounded so bullish on what the crypto firm was building with its Payment service. 

He used the opportunity to elaborate further on how Ripple was simplifying cross-border transactions with the help of the XRPL and XRP tokens. Ripple is known to settle these transactions through its blockchain, with XRP serving as the utility token, and these XRP tokens are then converted to the fiat currency of the recipient’s choice. 

XRP To Become The “World Reserve Bridge Currency”

Michel stated that XRP could become the “world reserve bridge currency” once countries implement their CBDCs (Central Bank Digital Currency). Ripple’s XRPL is already being touted as the go-to chain for CBDC settlements. The crypto firm had also revealed that they were already actively working with more than 20 Central banks on CBDC initiatives. 

The Tokentus founder also believes it won’t be long before other Central banks fall back on Ripple to help them implement their CBDCs. He noted that the pressure was piling up on these banks to act now to avoid an impending economic collapse. XRP is expected to play an integral role when this all happens. 

Ripple’s XRPL also looks set to act as the intermediary between all these CBDCs when the time comes. Bitcoinist once reported how the network’s clawback feature boosts the prospects of CBDCs being implemented on it. 

At the time of writing, XRP is trading at around $0.58, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

XRP price chart from Tradingview.com

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Crypto Analyst Predicts Major Price Shift For Cardano (ADA)

LuckSide, a crypto analyst, has weighed in on the price action of Cardano (ADA), giving an analysis of the near-term price performance of the crypto asset. 

Cardano (ADA) Poised For Bullish Or Bearish Trajectory

The crypto analyst recently shared his predictions for Cardano (ADA) with the crypto community during one of his YouTube videos. In the YouTube video – “CARDANO ADA – MOMENT OF TRUTH!,” LuckSide asserted that ADA is at a critical crossroads.

The analyst revealed a technical projection that indicates ADA is about to undergo a major price shift. According to him, this is either a bullish or a bearish trajectory in the near future.

LuckSide finds signals that are pointing in the direction of a significant price shift, after analyzing ADA’s price charts. This analysis is centered on the significant price gap in the Cardano native token.

Cardano

LuckSide asserted that the gap is “where the highest concentration of liquidity is located for ADA.” This is marked by ongoing selling pressure at the resistance level between “$0.60 and $0.67,” in sharp contrast to a $0.40 level. 

This gap denotes an unexplored area and suggests a potential strong move, given ADA’s price history. He noted that Cardano could either rise to test the resistance level around $0.70 or drop to the $0.40 support level.

The crypto expert also pointed out signs of robustness and strength of ADA in his video. The stability of pivotal support levels and moving averages underscores the strength of the crypto asset.

The larger market indicators, such as the volatility and price stability of Bitcoin (BTC), further support this resiliency. The analyst also attributed the market’s movement to the impending Bitcoin Halving event in Mid-2024, due to its market impact. 

However, LuckSide notes that unforeseen circumstances have the potential to change ADA’s direction while conceding the unpredictability of the market. He further added that although, a decline to $0.40 “might create opportunities to buy the token at a lesser price.”

The Network’s Growth Is Similar To Bitcoin

Charles Hoskinson, the founder of Cardano recently underscored the network’s growth, acknowledging that it mimics the natural growth of Bitcoin. The founder took to X (formerly Twitter) to celebrate the network’s performance with the community.

In the X post, Hoskinson stated that he has been observing with “glee as some people worry about Cardano’s blocks filling up.” He further reminded the community about the criticism of the network being a useless “ghost chain,” with no liquidity.

Hoskinson has assured the community that “Cardano is designed to handle these loads.” He noted a “huge design space” that optimizes the network and DApps for greater scalability in the short and long term.

In addition, he has highlighted the network’s victories without Venture Capital (VCs), the media, or influencers. 

Cardano