Block Bull (@TheBlockBull), a prominent crypto analyst on X, has presented a bullish forecast for XRP, suggesting a potential price surge to $246 by March 2025. This prediction hinges on the historical price movement of XRP following the previous Bitcoin halving events.
The analyst highlights a recurring pattern in the past two Bitcoin halving cycles. Based on weekly chart data, he reveals that XRP consolidated within a symmetrical triangle in the periods leading up to the halvings (2015-March 2017 and 2020-2021). Notably, in both instances, a significant price breakout materialized roughly 252 days after the halving event.
Historical Pattern and Bullish Outlook
Following the breakout from the symmetrical triangle in both cycles, XRP embarked on a sustained uptrend. In March 2017, the first instance culminated in an interim peak of $0.4345, 336 days after the Bitcoin halving. This price increase continued, reaching an all-time high of $3.84 in January 2018, marking the end of that cycle (539 days after the halving).
The pattern repeated itself during the 2020-2021 cycle. The chart indicates a breakout 252 days after the third Bitcoin halving (May 2020), with XRP recovering from a low of $0.2444 in January 2021.
Similar to the previous cycle, a price uptrend ensued, leading to a peak of $1.96 in April 2021 – 84 days after the breakout. This cycle concluded in November 2021, with XRP unable to surpass its January 2018 all-time high.
A Potential Repeated Performance and Ambitious Target
Block Bull anticipates a similar pattern unfolding in the current cycle, following the fourth Bitcoin halving that occurred last month. His analysis projects a breakout for XRP around December 2024 (252 days after the halving).
Following this, XRP will reach an interim peak in March 2025 (336 days after the halving). Finally, XRP will experience a massive surge toward the end of the cycle (539 days after the halving), culminating in his final target of $246.65.
XRP is currently trading at $0.5247, and this surge represents a 46,907.8% increase for XRP. While Block Bull’s prediction appears audacious, it finds some support from past forecasts.
Other analysts have shown how XRP can reach $200, and many have higher bullish expectations for the digital asset. The next few months will be intriguing as investors watch to see if XRP can reach the lofty post-halving targets set by analysts.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.