After halving the fourth Bitcoin Block (BTC) reward, XRP may prepare for a significant price increase. Block Bull analyst confirms that XRP has historically seen a significant rise about 228 days after the Bitcoin block reward was halved. This trend was confirmed in both the 2016-2018 and 2020-2021 cycles, where the price of XRP after halving the block reward.
Block reward halved and XRP price
Block Bull expects XRP to enter an upward trend around December 2024, 228 days after the Bitcoin block reward was halved. For investors holding XRP, the date of the first take profit target is mid-February 2025, 310 days after the block reward was halved. This cycle is expected to end around August 2025, 540 days after the Bitcoin block bonus was cut to Half. However, this may not mean that XRP has reached its highest price point, and we may see further price increases.
There is a possibility of a super cycle as XRP may experience three different price jumps instead of the traditional two. This super cycle can take the price of XRP to much higher levels.
Block Bull is very ambitious about the price of XRP in the future. Highlighting the usefulness of XRP in facilitating large-scale transfers in international financial transactions, the analyst noted that the altcoin needs access to about $2 to support such transactions.
On the other hand, the analyst stressed that a market downturn is inevitable and warned investors against stumbling on assets. Given the similarities with past cycles, XRP is expected to fall back to previous levels after its initial rally and then make another significant increase.
In this context, the analyst expects XRP to reach new highs in January and then retreat to around $2, followed by another rally, which could lead to a 100-fold increase.
Ripple achieves legal victory but may face appeal
Ripple, a cryptocurrency company that is locked in a long-running legal battle with the U.S. Securities and Exchange Commission (SEC), has won a major victory with a recent court ruling. However, the firm’s chief legal officer, Stuart Alderrotti, warned that the SEC may continue to seek an appeal, which could prolong the legal saga.
The case, which the crypto community has watched closely, focused on whether Ripple’s XRP coin constitutes a guarantee under U.S. law. After nearly four years of litigation, a federal judge ruled in favor of Ripple, finding that the company had not violated securities laws through its sales of XRP to exchanges.
Ripple avoided large fines in lawsuit before U.S. Securities and Exchange Commission
While the judge found that Ripple violated securities laws in direct sales to institutional clients, it eventually ordered the company to pay a fine of $125 million, a fraction of the $2 billion initially demanded by the SEC.
Aldrouti expressed satisfaction with the court’s decision, stressing that it not only ends the case, but also sets a precedent for the broader cryptocurrency industry. “We were very happy to receive this verdict; it marks the end,” he said in an interview.
CLO also highlighted the court’s rejection of the SEC’s allegations that Ripple acted recklessly and reminded regulators that there are no allegations of fraud or victims in the case. Despite the positive result, Aldrouti remains cautious about the possible next move for the U.S. Securities and Exchange Commission.
Given the regulator’s history of aggressive actions in the crypto space, it is believed that an appeal is possible. “The SEC has proven irrational… So, I wouldn’t be surprised if the SEC appealed the ruling,” he said.
The Future of XRP: Strong Resistance and Global Expansion for Ripple
The rise in the price of XRP has lost its fuel, with the XRP USD pair moving sideways. The symbol seems to have trouble holding above $0.6, indicating an abundance of bears near the price level.
However, a breakout above the price level may instill some confidence in the XRP price movement, helping the XRP USD pair start rising and lead the symbol to resistance near $0.626. Moreover, reversing the spot resistance would help the symbol’s price target the resistance near 0.664.
Ripple continues its expansion plans.
Ripple’s global project momentum confirms its intention to diversify its geographic footprint. For example, in South America, fintech’s CBDC platform has gained momentum, especially with Colombia Bank deploying and testing CBDC on this platform.
Similar moves in Europe, such as the partnership with Clear Junction for EU-UK cross-border payments and Montenegro’s central bank’s choice of Ripple’s CBDC platform, further highlight Ripple’s strategic shift away from dependence on the US market.
These collaborations can help boost Ripple’s credibility and provide the company with a shield against the uncertainty imposed by the SEC.
However, Ripple’s expansion seems to be not just about survival but about capitalizing on the growing global demand for innovative financial infrastructure. In Asia, the company’s partnership with SBI Remit to facilitate XRP cross-border transfers demonstrates the usefulness of token in real-world applications.
The company’s projects in Africa and Oceania, including partnerships with major financial institutions and even central banks, further illustrate Ripple’s expansion plans, regardless of U.S. regulatory challenges.Given the regulator’s history of aggressive actions in the crypto space, it is believed that an appeal is possible. “The SEC has proven irrational… So, I wouldn’t be surprised if the SEC appealed the ruling,” he said.
