Tokentus CEO on German Stock Exchange

Oliver Michel, founder and CEO of Tokentus Investments, notes five reasons why he believes XRP is about to see a “disproportionate” price surge.

Michel recently revealed this while Speaking on the Frankfurt Stock Exchange in Germany. He stressed that he had been involved in Ripple and XRP in 2017 and has been observing the crypto asset for several years. Michael acknowledged the large number of XRP orders that followed, noting that he wants to share his observations with the community.

Ripple’s Positioning for Blockchain Infrastructure Services

He believes these observations are the reasons why XRP could be gearing up for an explosive rally. The first observation is Ripple’s recent remarks confirming its mission to provide digital asset infrastructure for businesses. Note that on July 19, Ripple published a paper describing its ambition.

The company emphasized that its main goal is to become the leading infrastructure provider for companies looking to integrate blockchain. Michel emphasized that such a bold statement from Ripple is rare. It is worth noting that, while it remains a fact, such remarks have always been made by different people rather than the company itself.

The fact that Ripple felt it necessary to issue this statement at this point shows that something is going on behind the scenes. Michel said his first observation is that the company is currently positioning itself to serve these businesses.

XRP Corner Pattern

Meanwhile, the second observation is a massive symmetrical triangle, or wedge, in the XRP chart. Michel observed that XRP had formed the largest symmetrical triangle He drew attention to XRP’s recent movements, which have been more bullish than the rest of the market.

Notably, XRP recently recorded a massive 60% increase while the rest of the market consolidated. Amid the ongoing market correction, XRP has shown more resilience. Michel also highlighted some occasional price spikes that XRP has witnessed recently.

According to him, these price movements suggest that XRP could be setting the stage for an upward push. He noted that a breakout of the symmetrical triangle could lead to the expected price explosion. Michel believes that the rally would be much higher than the occasional price spikes.

Ripple Stablecoin, Stock Buyback and Lawsuit Resolution

His third observation is the next one Ripple RLUSD stable coinwhich the company confirms will launch before the end of 2024. In the meantime, he highlighted Ripple’s stock buyback as a fourth observation. For context, Ripple CEO Brad Garlinghouse recently revealed that the company is about to buy back $1.4 billion of its own shares.

The fifth and final observation concerns the upcoming final resolution of the Ripple vs. SEC lawsuit. Notably, Ripple CEO predicted The final verdict could be delivered this summer. The end of the trial could finally relieve the legal pressure that has prevented XRP from gaining sufficient institutional adoption in the United States.

Concluding his talk, Michel argued that these observations suggest that something is brewing for XRP. According to him, XRP could cause a “disproportionate” price explosion, too large to be compared to the rallies of other assets. At the time of reporting, XRP is trading at $0.591, down 5% in the last 24 hours.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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