It is already evident that the excitement surrounding Bitcoin Halving will be a major factor. Pre-halving anxiety is causing jitters in the cryptocurrency market. Geopolitical tensions are also adding to this market chaos. But with Bitcoin halving The prices of major cryptocurrency may experience minor drops before they break into bullish momentum. The Ripple(XRP) price is also affected by this.
Investors are eager to explore Ripple, hoping that its price will increase after the Bitcoin Halving Event.
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Halving XRP and bitcoin
Bitcoin Halving will be one of the largest crypto events on April 21, 2019. In order to maintain BTC’s scarcity, the event will involve cutting mining rewards by half. The event limits Bitcoin’s supply, thereby maintaining its current price.
The halving event can be associated with dispersed users. Bitcoin’s momentum is often transferred to other tokens. XRP should leverage its current group of traders for a steady price flow, and to debut its bullish onset in this season.
The XRP price forecast after the Bitcoin Halving.
Crypto analytics software that is worth mentioning CoinCodex Predictions predict that XRP’s value will increase by a stunning 15%, reaching $0.57 on 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 April 24, XRP could trade in the range $0.57-$0.67, before stabilizing back at $0.57.
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“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.”
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Source: watcher.guru