In recent weeks, XRP has experienced significant losses. At the onset of the fourth quarter of 2023, the price was steadily rising. However, in the subsequent weeks, it declined to around $0.50. What is the XRP price prediction leading up to Bitcoin Halving, and is there a possibility of the price rebounding to $1? Let’s take a look at this in more detail.
How has the XRP price been moving in recent weeks?
At the beginning of the 4th Quarter in 2023, the XRP rate was still increasing, moving from less than $0.50 to the $0.71 mark. However, since mid-November, we have observed more of a sideways movement with slight losses. At the onset of the year 2024, the XRP price then experienced a more significant decline, settling at $0.54.
Why did the XRP price fall?
The XRP coin could not rise in recent weeks, despite other altcoins experiencing strong gains. This is attributed to Ripple’s ongoing legal dispute with the SEC. Due to the persistent uncertainty, the interest among investors to buy is currently not as significant. This renders the XRP forecast difficult for the next few weeks.
What is the XRP Price Prediction until the Bitcoin Halving?
Bitcoin Halving describes the time when Bitcoin mining rewards are halved. This triggers a supply shock in the Bitcoin market. This change is expected to not only boost the Bitcoin price but also result in higher prices for altcoins. The XRP forecast is, therefore, relatively positive until the Halving, as many investors aim to invest in cryptocurrencies before the event.
How high can the XRP price rise?
If we assume a positive XRP forecast before the halving, we need to estimate how high prices can rise in the next few weeks. The halving is scheduled to take place in about 3 months, providing some time for achieving higher prices.
However, an increase to the $1 mark appears to be rather difficult, as the dynamics of price development are more likely to trend downward. But if the Bitcoin price rises significantly leading up to the Halving, the XRP price could also experience a sharp rise. An increase to a range above $0.70 seems likely.
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