XRP’s gradual progress this bull season has been a cause of concern for many of its community members. Despite Ripple partially winning the case against the SEC and forging stellar corporate alliances, XRP has yet to experience major price action.
According to CoinMarketCap, XRP has documented a shy spike of 7% last month. The token is currently sitting at $0.58 in a phase called consolidation. However, with the event of Bitcoin halving on the horizon, the altcoin market may notice a significant surge in its entirety. The boost of new momentum and activity may play an elemental role in improving XRP’s prospects to experience a full-fledged bull run soon.
Also Read: Ripple: XRP Forecasted to Surge 185% in Price, Here’s When
XRP: Consolidation Phase
XRP’s slow price motion has compelled various analysts on X to voice their opinions. Per a notable cryptocurrency analyst, “Crypto Rover,” XRP has been consolidated for 4 years now, sending mixed signals within the XRP community.
The consolidation phase in trading analogy refers to an asset’s ability to trade between two levels. This simply shows an asset’s indecisive price momentum, which can either break into a full bull run or turn bearish per marker drive and direction.
Consolidation is usually followed by a notable price spike in either direction. With Bitcoin Halving approaching, XRP is expected to show significant price action, triggered by increased investor activity and altcoin market movement.
The Halving event usually brings new consumer energy into the domain. While Bitcoin may experience a slight price slip before hitting a new ATH, altcoins may note considerable market momentum and attention during this halving event.
XRP Price Prediction: April
With Bitcoin Halving scheduled for April 21, XRP may note significant price hikes and upticks around the same time. Per CoinCodex, XRP may gain a solid 22% hike to stabilize its value at $0.748838 in April.
XRP is forecast to trade within a price range of $0.588150 and $0.748838 this week. XRP will increase by 27.32% and reach $0.748838 by April 7, 2024 if it reaches the higher value target.”
Another crypto price analytics platform, Changelly, echoes the same price sentiment for XRP. Per the platform, XRP is expected to trade around $0.71 in April 2024.
“Crypto experts expect an average XRP rate of $0.714 in April 2024. Its minimum and maximum prices can be expected at $0.609 and $0.818, respectively.“
Also Read: Ripple: When Will XRP Hit Critical Price Markers of $0.70 and $1?
CoinCodex further predicts XRP to breach past the $1 mark by the end of 2024 and early 2025.
“The XRP price prediction for 2025 is currently between $0.370551 on the lower end and $1.828238 on the high end. Compared to today’s price, XRP could gain 211.41% by 2025 if it reaches the upper price target.”