Frankfurt Stock Exchange Analysis Expects XRP to Surge to $10

Recent stock market analysis on Germany’s Frankfurt Stock Exchange suggests XRP could surge more than 2,000% this year to $10.

The analysis was conducted by Oliver Michel, CEO of Tokentus Investment AG, in a recent interview with Der Aktionär. Specifically, the analysis focuses on XRP’s potential performance in 2024 and why investors are hopeful.

The reporter asked about the apparent discrepancy between Ethereum and Solana’s charts compared to XRP. Unlike Ethereum and Solana’s respectable uptrend, XRP’s chart is showing a falling candle.

In response, Michel explained that the XRP chart is shown in a monthly view, spanning from 2014 to June 2024. He acknowledged that XRP has underperformed over the past year, with prices hovering between $0.50 and $0.52.

Analyzing XRP’s 20x Potential

Meanwhile, Michel noted that from 2014 to early 2017, XRP formed a wedge pattern, which led to the first breakout of 4,300%. Notably, XRP traded as low as $0.006 in January 2017 but surged to $0.2522 in December, a 40-fold increase as noted by the CEO.

Michel further noted that XRP moved sideways for a few days before completing a breakout move that pushed it to an all-time high of $3.84. He estimates that XRP’s trajectory from its all-time low to its highest price point represents a staggering 39,700% growth.

According to the CEO, widespread optimism about XRP stems from this historical performance. Specifically, he stated that the community is hoping for this impressive percentage gain despite XRP’s current underperformance.

Michel highlighted that this optimism stems from a similar bullish wedge pattern that has formed over the years.

“The pressure is building and everyone is expecting an upward burst soon,” he said.

XRP hits $10 this year

However, the analyst said that the breakout does not have to be a 40-fold increase like before. Michel noted that he would be satisfied with a 20-fold increase, where XRP would reach the $8, $9 or $10 price level this year.

“That would be pretty nice. It’s something to look forward to and wait for, and that’s what I’m doing,” he said.

XRP DROPZ, a well-known community-based account, highlighted this bullish analysis made by the Tokentus Investment CEO on the Frankfurt Stock Exchange.

Notably, Michel is a well-known XRP supporter whose investment in the asset is public. In a previous analysis, the CEO boldly claimed that XRP has the potential to become the world’s reserve currency.

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