Bitcoin halving has been credited with a massive boost to the cryptocurrency market. Leading altcoins like Solana Ethereum and Bitcoin also saw modest increases, their projected prices in green. XRP rose 6% over the last day, following the Halving initiative.
The XRP push price is a mixture of two factors, with the SEC/Ripple recent legal update causing the token to see a change in price. The price of XRP is also slightly higher, thanks to the recent SEC-Ripple legal update.
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Ripple moves to test a new price mark
According to Santiment, XRP saw a 6% increase in the past 24 hours as wallets that held 1 million Ripple Tokens increased by 3.1%.
The announcement comes following the Bitcoin Halving, an event that is believed to have caused a temporary surge in altcoins.
“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. “
Investors are also optimistic about XRP, and they hope that Ripple will win its case against the SEC.
The strategy: What has happened?
According to Egrag, a prominent crypto analyst, XRP currently faces a wave resistance that is preventing the tokens from breaking critical price marks.
Analysts noted that Ripple may face a major resistance level around $0.75. After this, the bullish trend will be unleashed.
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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.”
CoinMarketcap shows that XRP has risen 2% since the previous 24 hours to $0.54. Tokens are expected to experience minor dips and sways before stabilizing, and eventually trading at $0.75.
Then, you can also per CoinCodexRipple’s price may rise to $0.65 before the end 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.
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Source: watcher.guru
