Recent chart analysis at the Frankfurt Stock Exchange in Germany suggests that XRP could potentially surge by over 2,000% this year to reach $10. Oliver Michel, CEO of Tokentus Investment AG, conducted this analysis during an interview with a Der Aktionär reporter. The focus was on XRP’s expected performance in 2024 and the reasons for investor optimism.
During the interview, the correspondent noted a significant contrast in the charts of Ethereum and Solana compared to XRP. While Ethereum and Solana showed upward trends, XRP’s chart displayed declining candles. Michel clarified that the XRP chart was viewed on a monthly scale, spanning from 2014 to June 2024. He acknowledged that XRP had shown minimal movement over the past year, trading between $0.50 and $0.52.
XRP’s Growth Potential: Frankfurt Stock Exchange Analysis
Oliver Michel, CEO of Tokentus Investment AG, highlighted XRP’s historical performance during a recent interview at the Frankfurt Stock Exchange. He pointed out that from 2014 to early 2017, XRP formed a wedge pattern that resulted in an initial breakout, leading to a remarkable 4,300% increase. Starting as low as $0.006 in January 2017, XRP surged to $0.2522 by December of that year, marking a 40-fold rise.
Michel further noted that after moving sideways briefly, XRP completed its breakout rally, reaching an all-time high of $3.84. He estimated that XRP’s trajectory from its lowest prices before the ATH represented an astonishing 39,700% increase.
The CEO attributed widespread optimism in XRP to its historical performance, with the community hoping for similar impressive growth amid its current underperformance. Michel highlighted the formation of a bullish wedge pattern over the years, suggesting that pressure is mounting for an anticipated upward breakout. “Everyone is anticipating an upward breakout soon,” he remarked.
Analyst’s Optimistic Outlook for XRP’s Price Growth
Oliver Michel, CEO of Tokentus Investment AG, expressed optimism about XRP’s potential for significant price growth during a discussion at the Frankfurt Stock Exchange. He mentioned that while a repeat of the 40-fold increase seen in previous years isn’t necessary, he would be content with a 20-fold gain, aiming for XRP to reach price levels of $8, $9, or $10 this year.
“That would be quite nice. It’s something to hope and wait for, and that’s what I’m doing,” Michel remarked.
The bullish analysis presented by Michel was highlighted by XRP DROPZ, a prominent community-based account focused on XRP-related news and developments.
Michel, known for his bullish stance on XRP, has publicly disclosed his investment in the asset. In a previous analysis, he confidently suggested that XRP has the potential to become a world reserve currency.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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