Bitcoin rallied this year after the U.S. Securities and Exchange Commission (SEC) approved the Spot BTC ETF in mid-January. The leading cryptocurrency hit a new all-time high of $73.737 in March delivering stellar profits to investors. After Bitcoin’s sudden spurt in price, leading altcoins like Ripple’s XRP, Cardano’s ADA, and VeChain’s VET printed new monthly highs. However, XRP and ADA’s rally was limited and did not move up massively in tandem with BTC’s rise.
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Now that the Bitcoin halving event is inching closer, the broader cryptocurrency market could experience another rally. In this article, we will highlight what could be XRP’s price if Bitcoin hits $150,000 after the halving event.
Ripple XRP’s Price If Bitcoin (BTC) Climbs Above $150,000 Price Range After Halving
The Bitcoin halving event is scheduled to take place next month on April 20, 2024. For the uninitiated, the halving event will cut Bitcoin’s supply in half making it scarcely available in the markets. The move will attract demand and make its price to sustainably scale up as the supply is limited.
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If Bitcoin kick-starts a rally and climbs above the $150,000 mark after the halving event, XRP could also follow suit. Forbes has predicted that if BTC reaches $150,000 post-halving, then XRP has the potential to hit the $1.43 price range.
That’s a return on investment (ROI) of about 130% from its current price of $0.63. Therefore, an investment of $10,000 into XRP today could turn into $23,000 if the prediction turns out accurate.
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However, there is no guarantee that Ripple’s native token could surge 130% after the BTC halving event. The cryptocurrency market is highly volatile and cuts both ways delivering severe losses to investors. It is advised to do thorough research before taking an entry position in XRP, Bitcoin, and the broader cryptocurrency market currently.
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