During a recent analysis conducted on the floor of the Frankfurt Stock Exchange, Oliver Michel, CEO of Tokentus Investment AG, shared insights on Ripple and XRP’s current trajectory.
Michel’s comments come at a time when Ripple is positioning itself as a major player in the blockchain financial infrastructure space.
According to Michel, Ripple’s ambition to become the leading digital infrastructure provider for financial services has taken center stage, especially with a recent update outlining the company’s goal to help enterprises integrate blockchain technology.
He noted that earlier, one would need to piece together individual bits of information, but this time, it comes directly from Ripple. “This is a clear signal of where Ripple is headed, not just targeting consumers, but major enterprises and even central banks,” said Michel.
Adding to the intrigue, Ripple’s announcement of a stock buyback program and its work on developing a stablecoin have bolstered speculation that major developments are on the horizon.
XRP Could Be Classified Differently
Based on these developments, Michel argued that XRP could soon be classified differently compared to other digital assets. “Ripple (XRP) is positioned differently in the world of cryptocurrencies,” he said.
Meanwhile, what has also caught his attention amid Ripple’s development is XRP’s recent price movement.
He cited the formation of a wedge pattern on the XRP chart, stressing it is an infrequent occurrence. “We rarely see such a large wedge, and we’re currently at the tip of it,” Michel explained.
Furthermore, Michel noted that, in recent weeks, XRP has shown signs of decoupling from the movements of Bitcoin and Ethereum, exhibiting what he described as a “nervous twitch.”
In parallel, he noted that, unlike its traditionally sluggish behavior, XRP is now showing an increase in trading volume, signaling something larger may be brewing. In his words:
“This is not just a small movement; it’s a very large one, and the pressure that’s been building up over the years could be released disproportionately.”
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
