Throughout the last month, the digital asset market has seen its value increase quite noticeably. However, one of the less impressive producers was Ripple, with XRP standing pat for much of March, there is the expectation that they could reverse course for April’s Bitcoin Halving Event.
Over the last month, XRP has increased a mere 2.53% according to CoinMarketCap. Although that is notable, it pales in comparison to some of its contemporary performances throughout March. Solana (SOL) increased 47% in that time, while traders are now preparing for Ripple to alter course throughout April.
Also Read: Ripple: XRP Forecasted to Surge 185% in Price, Here’s When
Ripple (XRP) Targeting $0.75 With Bitcoin Halving Nearing
The digital asset market faced some tremendous highs throughout March. Indeed, they were driven by Bitcoin, which had reached a new milestone mark of $73,000 in the middle of the month. Yet, April arrives with excitement as traders prepare for massive increases throughout the market.
One asset that could be poised to benefit is Ripple (XRP) which is targeting $0.75 as the Bitcoin Halvign approaches. Throughout March, XRP has trended neutrally, unable to benefit from positive market sentiment throughout this month. That ultimately led to the monthly gains remaining marginal and culminated in a price decrease of more than 4% at the start of April.
Also Read: Ripple XRP Continues Its Drop: Will XRP Fall Below $0.60?
The price of XRP has dropped to $0.60, as many traders have noted its difficulty in finding momentum upward. However, the trajectory for Ripple remains bullish. Indeed, crypto experts have pointed to steady increases in the short term, with the coming month likely to propel optimistic technical indicators.
CoinPedia predicts that the assets ascending consolidation could equate to a price high of $0.9. Moreover, the bearish projection for XRP is at $0.5, which would be a notable decline from its current levels.
Yet, the time is now for bulls to take control of the asset price movement. The daily chart shows that a correction in the short term is expected. However, a buy signal on the MACD is getting ever closer. A surge to $0.7 is predicted by the platform, with the Bitcoin Halving event likely contributing to even higher gains for the platform.
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