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After the 4th Bitcoin (BTC) block reward halving, Ripple’s XRP might be preparing for a significant price increase. Analyst Block Bull highlights that historically, XRP has experienced a significant breakout approximately 228 days after the Bitcoin block reward halving. This trend was confirmed in both the 2016-2018 and 2020-2021 cycles, where XRP’s price increased following the block reward halving.
Block Reward Halving and XRP Price
Block Bull predicts that XRP might enter an upward trend around December 2024, which is 228 days after the Bitcoin block reward halving. For investors holding XRP, the first profit-taking target date is mid-February 2025, which is 310 days after the block reward halving. This cycle is expected to end around August 2025, which is 540 days after Bitcoin’s block reward halving. However, this might not mean XRP has reached its highest price point, and further price increases could be seen.
The analyst also mentioned the possibility of a super cycle in which XRP could experience three different price jumps instead of the traditional two. This super cycle could take XRP’s price to much higher levels.
Is 100x Possible for XRP?
Block Bull is quite ambitious about XRP’s future price. Highlighting XRP’s utility in facilitating large-scale transfers in international financial transactions, the analyst noted that the altcoin needs to reach around $2 to support such transactions. This price threshold might be necessary for the trillions of dollars in transfers held in interbank accounts (nostro/vostro accounts).
On the other hand, the analyst emphasized that a market downturn is inevitable and warned investors not to get stuck with assets. Considering similarities with past cycles, XRP is expected to pull back to previous levels after its initial rise and then make another significant increase.
In this context, the analyst predicts that XRP could reach new peaks in January and then pull back to around $2, followed by another rise, potentially achieving a 100-fold increase.
