.Current currencies send conflicting signals in early February following the stagnation of the market in January. Although the fourth quarter of 2023 was dramatically bullish. However, the trend has changed with a little interest in agreeing to the Spot BTC ETF boxes in the United States. Alternative currencies that showed great potential in December. Including the price of XRP has reduced some gains to the levels that were last seen in October and November.
1. Can the XRP price rise as the Halfing Bitcoin event is approaching? As the investment funds circulated from the road, investors look forward to the next market. What in this case is the Halfing Bitcoin event. Although this event has a direct effect on bitcoin. However, it tends to launch a large -scale ascending market.
. The Bitcoin Halfing event, which occurs almost every four years. To reduce the mass bonus by 50 %, which directly affects the dynamics of display. In theory. This programmed scarcity leads to high prices due to the principles of classic supply and demand.
However, the effect on the price is not always immediate or written. Historically, price rises occurred months after the Halfing. Perhaps because of the anticipation and market courses.
The former Halfing occurred in May 2020 when Bitcoin was traded at about $ 8,778. Subsequent increases in bitcoin caused a peak of about $ 69,000 after approximately 18 months after the event.
. In addition, the effect of the Halfing extends beyond bitcoin. It often leads to bullish morale across the broader encrypted currency market, where investors are looking for high -growth alternative assets.
However, returning price movements to the Halfing only is difficult due to the complex interaction between the market forces. Organizational changes, and the broader economic factors.
While Halfing represents a long -term bullish bullish state of bitcoin and cryptocurrencies in general. Beginner and experienced traders must carefully consider these nuances and make a comprehensive technical and basic analysis before making investment decisions.
. 2. The Ripple currency (XRP) fell to its lowest levels, the price of XRP returned to the levels that were last seen in November and October. This means that he tests the same support before the fourth quarter of $ 0.485 to $ 0.75. And as long as the bears respect the area of the congestion of buyers. The next step can reinforce the XRP, targeting the main landmarks at $ 0.6, $ 0.8 and $ 1.
. Although the RSI index (RSI) is neutral at the time of writing this report. However, it approaches the peak of the sale, which means that the reflection of the direction is not far away.
In this case, traders must search for successful bounces of the main support range between $ 0.54 and $ 0.48. Likewise, the average cost of dollars within this range would give investors the opportunity to not miss the next step.
Above one dollar, the rise in the price of XRP can be equivalent and mainly moves it. (NYSE: GPS) were absent most of the currency holders from the previous height, as trading platforms and other main entities removed the inkin due to allegations of being a securities.
. However, with the XRP acquittal by the court in July. It is unlikely that there is another time guarantee to obstruct the toxin from reaching the highest new level ever.
Grzegorz Drozdz, market analyst at Conotoxia said. In a statement regarding the performance of the XRP price: "The partial solution to the conflict with the US Securities and Stock Exchange (SEC) can stimulate the growth of XRP in the near future."
"The height in the world of encrypted currencies may be a blessing for XRP," Drozdz added. If other cryptocurrencies rise, XRP can ride the wave.
. It is not possible to exclude more decline without support for the range because the price of XRP was not out of the danger. Moreover, stability is under the three emerging market indicators. The SIA moving average indicates for 20 days (EMA), and the SIA moving average for 50 days. The SIA moving average for 200 days indicates that the possibilities may still be in the interest of speculators and lead to a greater collapse of the basic support range between $ 0.38 and $ 0.4.
