Despite the ongoing XRP price struggles, the CEO of German venture capitalist firm Tokentus insists XRP is not just a coin, but part of a complete financial ecosystem.
For context, XRP has been under pressure since the Oct. 10 market crash, with its price now sitting around $2.40. Despite the dip, several analysts still believe in its long-term potential. One of them is Oliver Michel, CEO of Tokentus Investment AG, who implied that XRP’s real value goes beyond market charts.
Tokentus CEO Speaks on XRP Price Position
Speaking with Germany’s Deraktionaer TV, Michel talked about what’s holding XRP back and what could drive it forward. He said the ongoing U.S. government shutdown has slowed progress in the crypto market, especially with the approval of spot exchange-traded funds (ETFs) for assets like XRP and Solana.
According to him, the standstill means regulators can’t make key decisions or release data. However, Michel sounded confident that ETF approvals are coming soon. He suggested that XRP and Solana ETFs would gain approval and called the development “massive” for both projects.
Michel believes the delay might even be strategic, suggesting that officials could be playing what he called a “tactical game.” Despite the hold-up, the Tokentus CEO expects positive surprises once the government resumes normal operations.
Speaking further, he discussed XRP’s recent price performance, noting that it has been moving sideways for months. He pointed out that XRP gained about 23% over a four-week period before stabilizing again. Right now, the token trades between $2.40 and $2.50, a range he called the “Dump Money Zone.”
Michel believes this is a neutral zone where traders should wait and watch instead of rushing in or out. He said XRP could go in either direction depending on how Bitcoin and the broader market behave in the coming weeks.
“XRP is Not Just a Coin”
However, his most bullish comments focused on what sets XRP apart from other cryptocurrencies. He said XRP’s strength is in the ecosystem Ripple has built around it. This features a system that ties together banking, risk management, and blockchain technology.
He called attention to Ripple’s $1 billion acquisition of GTreasury, a treasury management software company, whose tools already run in 13,000 banks. According to him, this gives Ripple a solid position in TradFi and opens the door for wider adoption of its technology.
He then suggested that XRP is not just a crypto asset, insisting that it is part of a broader financial infrastructure. “XRP is not just a coin; it is part of a complete ecosystem, from a bank to a ledger, to a custody solution, to treasury management software,” Michel said.
He added that new features will continue to expand the network, which could potentially turn XRP and the XRP Ledger into a complete solution and a leading platform for bridge currency use.
Michel also mentioned Evernorth, a new company backed by Ripple, key investors, and Chris Larsen. He pointed out that Evernorth plans to become the largest publicly listed XRP treasury, backed by $1 billion in funding. The project will use that money to buy XRP directly from the market.
“It is supposed to be the largest publicly listed treasury for XRP, and XRP is supposed to be bought with this one billion in spot,” he said, calling it a major step for institutional adoption and long-term stability.
Meanwhile, in the long term, Michel expects XRP to rebound once ETF approvals come through and market conditions improve. He said the token could rise from its current level of $2.40 to $6, $7, $8, or even $9 if momentum picks up.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
