Following the fourth Bitcoin (BTC) block reward halving, Ripple’s XRP might be gearing up for a substantial price increase. According to analyst Block Bull, historical data suggests that XRP typically experiences a significant breakout around 228 days after the Bitcoin block reward halving. This pattern was observed during the 2016-2018 and 2020-2021 cycles, where XRP’s price surged post-halving.
Block Reward Halving and XRP Trends
Block Bull forecasts that XRP could begin an upward trend around December 2024, approximately 228 days after the Bitcoin block reward halving. For investors holding XRP, the initial profit-taking target is set for mid-February 2025, around 310 days after the halving. The cycle is projected to conclude around August 2025, 540 days post-halving. However, this does not necessarily indicate that XRP will have reached its peak, and further price increases may be possible.
The analyst also mentioned the potential for a “super cycle,” wherein XRP might experience three distinct price jumps instead of the usual two. This super cycle could propel XRP to significantly higher price levels.
Will XRP Achieve 100x Gains?
Block Bull is optimistic about XRP’s future price, emphasizing its utility in facilitating large-scale international financial transactions. The analyst noted that for XRP to support such transactions, it needs to reach approximately $2. This price level is deemed necessary for the trillions of dollars in interbank transfers held in nostro/vostro accounts.
However, the analyst cautioned that a market downturn is inevitable and advised investors to be mindful of potential dips. Based on past cycles, XRP is expected to fall back to previous levels after an initial rise and then make another significant increase.
Key Investment Insights
Key Points for Investors:
– Expect an initial profit-taking period around mid-February 2025.
– Be prepared for market fluctuations and potential downturns.
– A projected “super cycle” could result in multiple price jumps.
– XRP might need to reach $2 to facilitate large-scale transactions.
– XRP could achieve a 100-fold increase following periodic corrections.
In conclusion, XRP’s price trajectory appears promising, with historical trends and future forecasts indicating substantial growth. Investors should remain vigilant and consider both the opportunities and risks associated with market cycles.