Bitcoin ‘s halving, scheduled to take place in April, is an important event in the cryptocurrency industry. This halving will halve the rewards given to miners for verifying new blocks on the blockchain, from the current 6.25 BTC to 3,125 BTC.
Koinfinans.com As we reported, this event is part of the supply mechanism designed to control BTC’s inflation and make its existence more scarce over time. Historically, such a halving has resulted in an overall market revival.
However, this time the sector experienced a huge boom long before the halving. Many digital currencies have reached all-time high prices. In this case, Ripple XRPThe question has been raised as to whether it will be able to reach the 1 dollar mark before the next event.
Such an increase is expected to occur under the influence of a number of complex factors. In recent months, partial victories in the lawsuit against the US SEC have been observed to have contributed to short-term price increases of XRP.
The hearing between the two entities, which will be held on April 23 (a few days after the expected halving), will be important to see whether the asset will increase its volatility.
Investor behavior, positive market sentiment, and key partnerships signed in the coming weeks could have a positive impact on XRP’s price.
Recently, the company has collaborated with Commercial International Bank (CIB), one of Egypt’s largest banks. It had previously collaborated with Thailand’s oldest bank, Siam Commercial Bank (SCB) and Morocco’s Attijariwafa Bank. These partnerships can have a positive impact on the price by increasing the adoption and usage of XRP.
Analysts Contribute
Some analysts who track XRP on a daily basis believe it could reach or even exceed the $1 milestone next month. For example, user X EGRAG CRYPTO predicted a rise to $1.40 in April followed by an ATH (all-time high) of $5.
Alex Cobb was also bullish, predicting that if XRP breaks the key resistance level around $0.63, it could reach a new high in the coming months.
