Oliver Michel, CEO of Tokentus Investment AG, recently shared his insights on the current trajectory of Ripple and XRP during an analysis conducted on the floor of the Frankfurt Stock Exchange.
Ripple has been positioning itself as a major player in the blockchain financial infrastructure space, and according to Michel, their ambition to become the leading digital infrastructure provider for financial services has taken center stage. He highlighted a recent update from Ripple, which outlines the company’s goal to help enterprises integrate blockchain technology. This update is a clear signal of where Ripple is headed, as they are not only targeting consumers but also major enterprises and even central banks, according to Michel.
Ripple’s announcement of a stock buyback program and their work on developing a stablecoin have further fueled speculation about major developments on the horizon. Michel argued that these developments could lead to XRP being classified differently compared to other digital assets.
Michel also pointed out the recent price movement of XRP, which has caught his attention. He mentioned the formation of a wedge pattern on the XRP chart, emphasizing that this is a rare occurrence. According to Michel, XRP has shown signs of decoupling from the movements of Bitcoin and Ethereum, exhibiting what he described as a “nervous twitch.” Additionally, XRP’s trading volume has increased, indicating that something larger may be brewing.
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