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Frankfurt Stock Exchange Analysis Predicts 20X Rally for XRP to $10
Recent chart analysis at the Frankfurt Stock Exchange in Germany suggests that XRP could climb more than 2,000% this year to reach $10.
This analysis was conducted by Oliver Michel, CEO of Tokentus Investment AG, during a recent interview with a journalist from Der Aktionr. More precisely, the analysis focused on how XRP might perform in 2024 and why investors are hopeful.
The correspondent searched clarification on the marked difference between the charts of Ethereum and Solana compared to XRP. Contrary to the bullish trends observable on Ethereum and Solana, the XRP chart shows falling candles.
In response, Michel explained that the XRP Chart is in a monthly view, spanning from 2014 to June 2024. He acknowledged that XRP has shown little movement over the past year, hovering between $0.50 and $0.52.
Analyzing the potential of XRP 20X
Meanwhile, Michel highlighted that between 2014 and early 2017, XRP formed a wedge pattern that led to an initial breakout of a whopping 4,300%. Remarkably, XRP was trading at $0.006 in January 2017, but soared to $0.2522 in December, a 40-fold increase, as the CEO pointed out.
Michel further noted that XRP moved sideways for a few days before completing the rally, which propelled it to an all-time high of $3.84. He estimated that XRP's trajectory from its pre-ATH lows represented a astonishing increase of 39,700%.
According to the CEO, widespread optimism towards XRP is based on this historic performance. Specifically, he said the community is hoping for this impressive growth percentage amid XRP's current underperformance.
Michel pointed out that the optimism came from the observation that a similar bullish wedge had formed over the years. The pressure is mounting and everyone expects an increase soon. he remarked.
XRP at $10 this year
However, the analyst said the breakout rally does not necessarily have to increase 40 times like before. Michel indicated that he would be satisfied with a gain multiplied by 20, where XRP hits price levels of $8, $9, or $10 this year.
That would be pretty cool. It's something to hope for and wait for, and that's what I do, he remarked.
XRP DROPZ, a leading community account, highlighted this bullish analysis presented by the CEO of Tokentus Investment at the Frankfurt Stock Exchange.
#XRP CHART ANALYSIS AT THE FRANKFURT STOCK EXCHANGE IN GERMANY THE XRP CHART IS “SIGNIFICANTLY DIFFERENT FROM #SOLANA AND #ETHEREUM“ “WE HAD THIS WEDGE IN THE TIME OF 2014-2017 THAT WAS COMPRESSED AND WE HAD A FIRST EVENT UPWARDS 4300% […] AND HAD ANOTHER BURST https://t.co/rb8CvlJLJv pic.twitter.com/MPtZVmzJZa
–XRP DROPZ (@DROPZXRP) June 6, 2024
In particular, Michel is a well-known XRP bullhis investment in the asset being public knowledge. In a previous analysis, the CEO boldly asserted that XRP has the potential to become a global reserve currency.
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 opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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