- Tokentus CEO Oliver Michel discusses XRP’s position as financial infrastructure.
- XRP trades in $2.40-$2.50 range following recent market volatility and pullback.
- Ripple’s $1 billion GTreasury acquisition connects 13,000 banks to its network.
The chief executive of German venture capital firm Tokentus Investment AG has shared his perspective on XRP’s role in the digital asset space. Oliver Michel argues that the token functions as part of a larger financial framework rather than operating as a standalone digital currency.
XRP currently trades around $2.40 after facing downward pressure following the October 10 market decline. The token has moved sideways for several months, though it posted gains of approximately 23% during a four-week stretch before settling back into its current range.
CEO outlines trading range and market factors
In an interview with Germany’s Deraktionaer TV, Michel addressed the factors affecting XRP’s price movement. He noted that the U.S. government shutdown has delayed regulatory progress in the crypto sector, particularly regarding spot exchange-traded fund approvals for assets including XRP and Solana.
Michel described the $2.40 to $2.50 price band as the “Dump Money Zone,” characterizing it as neutral territory. He advised market participants to observe rather than take immediate action, stating that XRP’s direction will depend on Bitcoin’s performance and overall market conditions in the weeks ahead.
The executive highlighted what differentiates XRP from other digital assets. He pointed to the infrastructure Ripple has constructed, which combines banking services, risk management tools, and blockchain technology into a unified system.
Ripple’s banking integration draws attention
Michel referenced Ripple’s acquisition of GTreasury for $1 billion. The treasury management software company already operates within 13,000 banks, providing Ripple with established connections to traditional finance. This positioning could facilitate wider adoption of Ripple’s technology across the banking sector.
“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 stated. He suggested that ongoing feature additions will expand the network and potentially establish XRP and the XRP Ledger as a leading platform for bridge currency applications.
The CEO also discussed Evernorth, a new entity supported by Ripple, major investors, and Chris Larsen. Evernorth plans to function as the largest publicly listed XRP treasury with $1 billion in backing. The company intends to purchase XRP directly from the market using these funds.
Michel views this development as a step toward institutional adoption and long-term price stability. Looking ahead, he anticipates XRP could climb from its current $2.40 level to between $6 and $9 once ETF approvals materialize and market conditions improve.
Source: https://thenewscrypto.com/xrp-is-not-just-a-coin-tokentus-ceo-explains-why-ripple-is-building-financial-infrastructure/
