Bitcoin halving is scheduled for next week, and speculation surrounding XRP price after the event is gaining momentum as leading experts share interesting insights.
Bitcoin (BTC) price fluctuations typically affect the performance of other crypto assets, including XRP. Notably, when the value of BTC skyrockets, the price of the cryptocurrency typically soars, and vice versa.
The long-awaited Bitcoin halving is expected to occur by April 19th or 20th, and market watchers are hopeful that this event will pave the way for the next bull market.
Historically, after a Bitcoin halving, altcoin prices have skyrocketed along with BTC. As a result, analysts expect this Bitcoin halving to result in the same trends observed in previous market cycles.
It is worth mentioning that XRP failed to record significant gains during the last bull market due to the SEC vs. Ripple case. While other assets hit new highs in 2021, XRP soared to around $1.98, down 48.43% from its ATH of $3.84 recorded in January 2018.
Interestingly, top market watchers and crypto prediction platforms believe that XRP's performance in this market cycle will be quite different from previous ones.
This optimism stems from legal clarity for XRP in the Ripple lawsuit, where a judge declared the coin a non-security on July 13th.
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Expected XRP price after Bitcoin halving
We have summarized the predictions for XRP after Bitcoin halving.
Renowned market analyst Lev predicted that XRP will reach its previous ATH of $3.84 around the Bitcoin halving. At the current exchange rate of $0.545, XRP has fallen 85.85% from its previous peak price.
Last month, another well-known expert, CrediBULL, predicted that XRP could surge more than 100% against the BTC pair after the Bitcoin halving.
Furthermore, Jake Gagain claimed that the price of XRP could reach $5.85 by 2025, a few months after the upcoming Bitcoin halving. Gagain's prediction is in line with a similar prediction published by Dark Defender last month. As previously reported, analysts speculated that XRP will reach its $5.85 target in the coming weeks.
Meanwhile, popular AI chatbot Google Bard predicted that if Bitcoin reaches $100,000 after the halving, XRP could reach $38.5. He also predicts that if Bitcoin soars to $250,000, the coin will skyrocket to $46.5.
Meanwhile, XRP is trading at $0.545, down 10.45% in the past 24 hours. This leading crypto asset currently ranks as the 7th largest cryptocurrency with a market capitalization of $29.94 billion.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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