Market analysts have identified a potential timeline for the next XRP bull run, citing historical data from past Bitcoin halvings.
The prediction comes from two market analysts, PharaohX and The Block Bull, both of whom analyzed previous XRP price movements following Bitcoin halvings.
The analyses from these two market commentators suggest that XRP could start its bullish move around December 2024 to January 2025, roughly eight months after the April 2024 Bitcoin halving.
XRP Moves 8 Months After Bitcoin Halving
PharaohX’s commentary traces a pattern from the last two major Bitcoin halvings. He noted that XRP tends to begin its upward movement eight months after each halving, a trend that has held steady in both 2016 and 2020.
For instance, after the 2016 Bitcoin halving in July, XRP’s bull run began in March 2017, during which it surged from $0.005 to the all-time high above $3. According to PharaohX, XRP witnessed an impressive 68,000% increase within this period.
The next halving occurred in May 2020, and similarly, XRP’s bullish move began around January 2021. Although XRP’s gains were smaller during this cycle—around 900%—the milder growth was largely due to the uncertainty surrounding the U.S. Securities and Exchange Commission (SEC) lawsuit at the time.
With the April 2024 Bitcoin halving now behind us, PharaohX suggests that XRP is likely to initiate its next rally by late December 2024 or early January 2025. This would follow the same pattern as the last two previous cycles.
Potential XRP Push
According to him, this current market cycle has similarities to the 2017 bull run. PharaohX acknowledged that while it may not be realistic to expect XRP to replicate its 68,000% gain from 2017, he is confident that the altcoin could experience a massive increase.
He even presented a hypothetical scenario where a similar percentage increase from the $0.28 low could push XRP to $190. Such a rally would bring XRP’s market cap to $10.8 trillion. PharaohX argued that such a push is possible, but not guaranteed.
His optimism is bolstered by the court’s declaration that XRP is not a security. This clarity has removed a major barrier, enabling potential growth in institutional interest, especially with the anticipated introduction of XRP exchange-traded funds (ETFs).
XRP’s 33-Week Bottom
Meanwhile, the Block Bull, another analyst, discussed a similar pattern, leveraging a weekly chart. The chart tracks XRP’s price movements around Bitcoin halving events and marks an optimal entry point based on past cycles.
According to The Block Bull, 33 weeks after a Bitcoin halving tends to be an ideal entry point, coinciding with previous cycle bottoms. His chart confirms that this pattern has played out in the last two Bitcoin halvings.
If it repeats, the optimal entry point for this cycle would come between December 9 and 16, a month after the US election. This is in line with PharaohX’s projection for XRP’s next upward movement to begin around December 2024. Currently, XRP trades for $0.5181, down 0.65% in the last 24 hours.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
