Coming soon Bitcoin Halving Event Many digital asset investors are excited. In fact, this moment could be crucial in increasing the value for digital assets on the whole. But Ripple’s (XRP), current bearish trend could undermine its hopes of $1 during April.
The Bitcoin halves are currently scheduled to occur on the 19th of April. XRP is still in a decline, as its price has remained at $0.60. CoinMarketCap states that XRP’s value has dropped by more than 1 percent in the last 24 hour. These losses may have negated the optimism many investors felt at the beginning of the year after the halving.
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Bitcoin Impact Halts as Ripple (XRP), Downtrend, Threatens.
Ripple, since its launch in 2024 has been a source of excitement among investors. The lawsuit that Ripple has been fighting with the US Securities and Exchange Commission for years was expected to be settled. There was also the expectation that the bull market expected for the US market this year would help.
This hasn’t been the case for three months in 2024. The Ripple price (XRP), which is currently on a downward trajectory, could endanger its goal of $1 and any gains after the halving that investors were hoping to see. This concern only grows as the asset continues to fall today.
Ripple is down more than 3% in the last thirty days. This fact in itself is alarming. own MArrch played a major role in the overall gains. The Fibonacci number does not seem to be beneficial for the asset. XRP was rejected by the bears at the 0.382 Fibonacci Level, which is $0.632.
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Ripple-XRP-Bearish-Trajectory-Threatens-1-Hopes-in-April.png)
![](https://fxruhanahmed.com/2/wp-content/uploads/2024/04/Ripple-XRP-Bearish-Trajectory-Threatens-1-Hopes-in-April.png)
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Therefore, it is expected that the asset would require the golden support ratio now present at the $0.52 level. Despite the fact that the Relative Strength Index for this asset is currently negative, the 4-hour chart has a worrying bearish pattern. The MACD has diverged to bearish areas. In the meantime, the MACD Histogram shows that the asset is moving downwards.
Bitcoin’s current situation is more worrying than ever as the Bitcoin halves are fast approaching. The event is perceived by many digital assets as an increase in value. XRP has seen a stagnation at $0.6 at best and a downward trend in the worst case. The halving must be greater than the current stubbornness in the value of the asset.
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Source: watcher.guru