After the recent Bitcoin halving event, we have gathered six noteworthy XRP price predictions to shed light on what can be expected for XRP moving forward.
The highly anticipated Bitcoin halving has taken place, marking the fourth occurrence of this event in the history of the Bitcoin network. Following the implementation of the latest halving at 12:09 (UTC) today, the block reward, which represents the amount of new BTC created, has been reduced to 3.125 per block.
With the reduction in inflation rate, experts in the industry believe that Bitcoin could experience a surge in price after the halving, a trend that has been observed in previous market cycles. Consequently, there are expectations of similar price surges for altcoins like XRP. In order to provide a glimpse of the community’s expectations, we have compiled some XRP price predictions post-halving.
XRP Price Predictions Following the Bitcoin Halving
In the previous month, a crypto analyst named Leb evaluated the price movements of XRP over a two-week timeframe in an attempt to project its future direction. As reported by The Crypto Basic, the analyst noted that XRP could surpass its latest all-time high (ATH) and potentially reach $3.84 either before or immediately after the halving.
On March 18, another market analyst named CrediBULL predicted an imminent surge in XRP’s price after the halving, but assessed this projected increase in relation to Bitcoin’s price movements. According to CrediBULL, XRP could experience a 100% spike against BTC in the period following the halving.
Furthermore, Google’s experimental AI project, Google Bard (now Gemini), added to the speculations last December after receiving queries from The Crypto Basic. Bard’s XRP price predictions were based on projections that Bitcoin could reach $100,000 and $250,000 after the halving. The AI chatbot projected a higher surge in XRP’s price for every 100% increase in Bitcoin’s price post-halving. Consequently, it asserted that XRP could reach $38.5 if Bitcoin hits $100,000 and $46.5 if Bitcoin rallies to the ambitious target of $250,000.
The $5 Price Projections
In a recent assessment, The Crypto Basic evaluated how much XRP would surge if it replicated its previous price increase following the 2020 halving. After confirming that XRP rose by 942% from May 2020 to April 2021, the report suggested that a similar upward trend would take XRP’s price to $5.2 after the recent halving.
Jake Gagain, a notable market watcher, presented a similar stance in an analysis on March 21. Gagain’s XRP price predictions involved projections for the year 2025, several months after the halving. According to him, XRP could rise to $5 in 2025. Additionally, analyst Dark Defender had previously set $5.85 as his price target for XRP.
Despite underperforming at the moment, these XRP price predictions all project a bullish momentum after the halving. Currently, XRP is priced at $0.5142, experiencing a 2.23% increase over the past 24 hours. This recovery comes after XRP slumped to a low of $0.4188 during the recent market crash.
Disclaimer: This content is for informational purposes only and should not be considered as financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses incurred.