NAIROBI (CoinChapter.com) — If history is any indication, the price of XRP will surge massively around Bitcoin halving euphoria. For example, the price of XRP surged 30,405% in the 18 months following the second Bitcoin halving on July 16, 2016. This surge surpassed Bitcoin’s relatively modest rise of 2,830% over the same period.
Likewise, the third Bitcoin halving occurred on May 11, 2020, after the price of XRP surged up to 1,100%. In comparison, the price of Bitcoin rose approximately 550% over the same period.
Expectations for a surge in XRP price rise due to ‘alt season’
Projects such as $INJ, $RPL, $PLA, $STPT, and $BAT have all seen a surge in whale activity, with significant increases in transactions exceeding $100,000, according to cryptocurrency intelligence platform Santiment. This means that large investors are positioned to potentially profit from these altcoins as the Bitcoin halving approaches on April 25th.
These developments could also benefit XRP, which has historically experienced large price surges following Bitcoin halvings and is currently facing a potential resolution to its ongoing legal battle with the SEC. This is another event expected to have a major impact on prices.
Bitcoin halving cuts the BTC supply rate in half. Limited supply could cause prices to rise, which would cause investors to reinvest in other cryptocurrencies, including altcoins, without generating returns like we have seen in the past.
Altcoin Whale Trading Count Chart. Sanbase
As the Bitcoin halving approaches in April, XRP investors are keeping their eyes on another important event: the resolution of the ongoing legal battle with the SEC. Speculation was rife that the case could be concluded in the same month, sparking optimism among XRP supporters.
recent post Crypto analyst XRP Whale added to the optimism surrounding the XRP price surge by hinting at the possibility. The convergence of these events in April is expected to intensify market activity and interest in XRP, potentially leading to notable price movements.