NAIROBI (CoinChapter.com) — XRP price surges immensely around the Bitcoin Halving euphoria if history is any indication. For instance, the XRP price boomed 30,405% eighteen months after the second Bitcoin halving on July 16, 2016. This surge outpaced Bitcoin’s relatively modest gains of 2,830% in the same period.
Similarly, the third Bitcoin halving on May 11, 2020, followed an XRP price surge of up to 1,100%. In comparison, Bitcoin price gained around 550% in the same period.
According to crypto intelligence platform Santiment, projects like $INJ, $RPL, $PLA, $STPT, and $BAT have all seen a surge in whale activity, with a significant increase in transactions exceeding $100,000. This suggests large investors are positioning themselves for potential gains in these altcoins as the Bitcoin halving on April 25 approaches.
This development could also benefit XRP, which has historically experienced major price surges following Bitcoin halvings and is currently facing a potential resolution to its ongoing legal battle with the SEC – another event expected to impact its price significantly.
The Bitcoin halving will reduce the BTC supply rate by half. The limited supply could drive up its price, leading investors to take profits off the table and reinvest in other cryptocurrencies, including altcoins, as we’ve seen in the past.
Altcoin Whale transactions count chart. Sanbase
As the Bitcoin halving approaches in April, XRP investors are also eyeing another significant event: the resolution of the ongoing legal battle with the SEC. Speculation is rife that the case could conclude the same month, fueling bullish sentiment among XRP supporters.
A recent post by XRP Whale, a crypto analyst, hinted at the possibility, adding to the optimism surrounding XRP’s price surge. The convergence of these events in April is expected to intensify market activity and interest in XRP, potentially leading to notable price movements.
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