Bitcoin halving is scheduled for April 20–21, with nearly 500 blocks remaining for the halving to kick in. The anticipation concerning the same is sweeping over the altcoin market, with leading cryptocurrencies gearing up to leverage the gains that Bitcoin may disseminate soon after the event. Ripple XRP is also standing in line, waiting for the lucrative gains, as its price is still critically hovering over $0.49, up 2.07% in the last 24 hours.
XRP has lately been showing a positive price stance. The price markers are still weak considering the bullish market phase, but the token is holding its ground steady as it awaits new developments to unravel in the ongoing SEC vs. Ripple case.
Also Read: Ripple: XRP Price Post-Bitcoin Halving
Trigger for XRP
Ripple has noted a modest uptick in its price in the last 24 hours. The latest developments in the SEC vs. XRP case have primarily spurred the 2% hike in its price.
Ripple’s chief legal officer, Stuart Alderoty, took to X to share an update, adding that Ripple will be filing its response to the SEC’s request on penalties on April 22. This development triggered a shy price uptick for XRP, which can again gain strength after the Bitcoin Halving event.
The halving event is often accompanied by fluctuations that BTC may encounter during the event. Halving ensures that BTC’s scarcity and rarity elements stay intact by limiting its supply. This entails cutting miners’ rewards in half to keep the token’s price value stable and secure.
However, the Halving triggers an altcoin surge where traders’ sentiment may shift toward other coins to secure stable returns during the volatile Halving event. This may help XRP gain considerable momentum this weekend, helping it cross major price resistance levels.
XRP Price Analysis For The Weekend
As Halving is just around the corner, the price of XRP may gain decent upticks to stabilize its price. Per CoinCodex, the asset may earn 15% in the process, trading at $0.57
Also Read: Ripple: XRP Poised to Reach $1.3, Predicts Analyst
The Ripple price forecast for the next 30 days is a projection based on the positive/negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $ 0.574160 on Apr 23, 2024, gaining 15.63% in the process.
Similarly, the platform predicts XRP to spike as high as $0.66-$0.67 by April 22, before shedding the additional value to stabilize at $0.57.