Analysts have identified a possible time frame for Ripple’s (XRP) next bull run.
Analysts’ opinion is based on Bitcoin halving data. The prediction in question comes from two analysts named PharaohX and The Block Bull, who analyze XRP price movements. According to analysts’ comments, XRP’s next bull move could start between December 2024 and January 2025, approximately eight months after the Bitcoin halving in April 2024.
Bitcoin halving and Ripple (XRP) correlation
PharaohX examined the price movements of XRP after the last two Bitcoin halvings. He stated that XRP started to show an upward trend eight months after the halving. This trend continued consistently in both 2016 and 2020.
For example, after the Bitcoin halving in July 2016, XRP’s bull run began in March 2017, with the price rising from $0.00 to over $3 ATH. During this period, XRP recorded an impressive increase of approximately 68,000%. In the next halving in May 2020, XRP’s rise started in January 2021; a more modest increase of 900% was observed during this period. However, this low rate was largely due to the uncertainty created by the US Securities and Exchange Commission (SEC) lawsuit.
After the Bitcoin halving in April 2024, it is predicted that the next rally of XRP may start as of December 2024 or January 2025, according to PharaohX.
Astounding price target
PharaohX stated that the current market cycle has similar characteristics to the bull run in 2017. Admitting that the 68,000 percent increase in 2017 will not occur again, the analyst still believes that XRP has a great upward potential.
The analyst raised the possibility that XRP could rise to $190 with a similar percentage increase from $0.28. He predicts that such a rally would increase XRP’s market value to $10.8 trillion.
62588
