Analyzing XRP Performance After Bitcoin Halvings: Insights from Grok AI
Grok, an AI chatbot embedded in Elon Musk’s X social platform, recently highlighted the historical performance of XRP after each of the past three Bitcoin halvings. The most recent halving occurred at the 840,000th Bitcoin block today at exactly 12:09 AM (UTC).
Ripple Performance After Previous Halvings
DAI leveraged Grok AI to gain insights into Ripple’s performance following each of the previous Bitcoin halving events. Grok noted that after the second halving, XRP recorded a 4.85% increase after 30 days and a rise of 5.54% after 90 days. 120 days later, XRP increased by 21.88% to $0.0063. However, a year after the halving, XRP’s price retraced, dropping by 50.72% to the $0.002 territory in July 2017.
Potential Price Impact of the Latest Halving
DAI expects ripple to replicate positive price movements seen after previous halvings, with the potential for even higher rates due to recent developments such as the potential end of the SEC vs. Ripple litigation, the launch of Ripple’s stablecoin, and the potential introduction of stablecoin legislation by the U.S. Congress. With the latest halving event having occurred, ripple is expected to record similar or higher price movements 120 days later, in mid-August.
Most market watchers believe that ripple could see significant price increases in the coming months, with some projections reaching as high as $27. The Crypto Basic recently found that should XRP replicate its entire price movements after the 2020 halving, its value could skyrocket to $5.2.
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