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The Bitcoin halving mania is famed for delivering a robust push to the entire cryptocurrency market. After witnessing the halving last week, leading altcoins such as Solana and Ethereum noted modest upticks, with their prices projected in green. XRP, too, followed the Halving push, rising 6% in the last 24 hours.
The XRP price push is a mix of two elements, where the recent SEC-Ripple legal update has caused the token to note a new price action. Similarly, with halving in the mix, the price of XRP has slightly ascended, fueling hopes for the token to cross $0.75 by the end of the week.
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Ripple Moves To Test A New Price Mark
Per Santiment, XRP has noted a 6% spike in the last 24 hours, as the number of wallets holding 1 million Ripple tokens peaked by 3.1%.
The news comes after the Bitcoin Halving event, which is said to have triggered the temporary altcoin surge.
“The price of #XRP has jumped ahead of the #altcoin pack, jumping +6% and reaching as high as $0.5687 today. The number of wallets, 2,013, holding at least 1 million $XRP, has been surging over the past six weeks (rising 3.1%) and is within 1 wallet of the #AllTimeHigh. “
The user sentiment towards XRP is also bullish, as investors are hoping for Ripple to emerge victorious against its ongoing case with the SEC.
The Strategy: What’s Happening?
Per Egrag Crypto, a notable crypto analyst, XRP is currently experiencing a wave of resistance, stopping the token from breaching critical price markers.
The analyst noted that the token may encounter a macro-resistance level at $0.75, after which Ripple will liberate to project a bullish streak.
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“#XRP Back Inside The Triangle 🔄:#XRP has bounced back, facing resistance at 0.55c and 0.58c, with 0.75c as the macro-resistance level.”
Per CoinMarketcap, XRP is currently trading at $0.54, up 2% in the last 24 hours. The token is expected to undergo mild price sways and dips before stabilizing and hitting past the price barriers to eventually trade at $0.75.
However, per CoinCodex, Ripple may ascend to trade at $0.65 by the end of this week.
“The XRP price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these XRP projections, XRP will be changing hands at $0.649534 on April 29, 2024, gaining 15.81% in the process.”
The platform predicts XRP to trade at $0.73 by May 4–5, 2024.
Read More: Halving Jitters: Can Ripple XRP Hit $0.75 By This Weekend?
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