The anticipation surrounding Bitcoin Halving has already started to show its potential. The cryptocurrency market is currently experiencing pre-halving jitters, coupled with geopolitical tensions, adding more flavor to the overall market mayhem. However, with Bitcoin halving approaching fast, the prices of major cryptocurrencies may project minor price dips before breaking into bullish momentum. Ripple (XRP) is no exception to this change.
While XRP has embraced a rather slow pace this bull season, investors are still keen on exploring Ripple’s might, hoping its price may gain valuable cents post the Bitcoin Halving event.
Also Read: 3 Cryptocurrencies to Buy Before They Hit the Big Post Bitcoin Halving
XRP and Bitcoin Halving
Bitcoin Halving is one of the most ambitious crypto events that will take place on April 21st. The event entails cutting miner rewards in half, which is a crucial step in keeping BTC’s scarcity element in check. It also limits the supply of Bitcoin, thereby keeping its price valuation intact.
The Halving event is associated with a dispersed user ratio, where momentum from Bitcoin often transitions toward other crypto tokens. XRP is expected to leverage this current segment of traders to ensure consistent price flow and debut its bullish onset this season.
XRP Price Forecast Post-Bitcoin Halving.
Notable crypto analytics platform CoinCodex predicts XRP will gain a striking 15% value, trading at $0.57 by April 23.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.571585 on April 23, 2024, gaining 15.55% in the process.”
After the 24th of April, XRP may trade within the price range of $0.57-$0.67 before stabilizing at $0.57 again.
Also Read: Ripple: XRP Poised to Reach $1.3, Predicts Analyst
“The price of Ripple may rise by 15.30% and reach $0.570381 by May 16, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 65 (greed). XRP recorded 16/30 (53%) green days with 5.95% price volatility over the last 30 days.”