Ripple’s native cryptocurrency XRP is currently trading at the $0.61 level on Monday. XRP scaled up in price this year as Bitcoin reached a new all-time high of $73,737 in mid-March. The upcoming Bitcoin halving event is making altcoins surge in price and XRP is one of the beneficiaries.
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The Bitcoin halving event is scheduled to take place on April 20, 2024. For the uninitiated, the Bitcoin halving cuts the supply of BTC in half making it scarcely available in the cryptocurrency market. Considering the Bitcoin halving is only a few days away, here’s how XRP’s price will react in the charts. In this article, we will highlight how high Ripple’s XRP can reach in April 2024.
XRP: How High Will It Rise In April 2024?
Leading on-chain metrics and price prediction firm CoinCodex has painted a rosy picture for XRP in April 2024. According to the price prediction, XRP could spike by a maximum of 29.51% this month. The forecast suggests that XRP could reach a maximum high of $ 0.79 by mid-April 2024.
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Therefore, an investment of $10,000 when XRP is trading at $0.61 could turn into $12,950 if the prediction is accurate. That’s a decent return and profits on investment this month.
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However, the forecast indicates that XRP could fall back to its current price range by the end of April 2024. The prediction estimates that Ripple’s native token can dip to the $ 0.64 price range from a high of $0.79 this month.
In conclusion, pulling out at the right time by selling your holdings could fetch investors the desired results. Holding on to the token might only see investors’ portfolios dip further and return to current-day prices. The art of investing in the cryptocurrency market is all about taking an entry position and booking profits at the right time.