Grok AI, an artificial intelligence platform, has provided an interesting insight into the performance of XRP following Bitcoin halving events. According to Grok AI’s analysis, XRP typically experiences a surge of more than 21% within 120 days after each halving. Based on this estimation, XRP could potentially reach a price of $1.06 by August. However, it is important to note that this prediction is subject to various factors such as the ongoing litigation with the SEC and the launch of a stablecoin.
The highly anticipated Bitcoin halving occurred on April 19, 2024, at approximately 8:09 p.m. (UTC). ViaBTC successfully mined the 840,000th block on the Bitcoin network, reducing the rate of new Bitcoin creation to 3.125 every 10 minutes. Prior to this event, market analysts and commentators, including Digital Asset Investor (DAI), focused on the potential price impact of previous halvings, with a particular emphasis on XRP. DAI’s analysis relied on the insights provided by Grok AI, which indicated that XRP tends to experience significant price increases within 120 days after halvings.
In a tweet, DAI highlighted that 120 days after halving events seem to be the optimal period for XRP’s performance. However, DAI also noted that this time might be different due to various factors such as the resolution of the SEC lawsuit, the release of a stablecoin, and the introduction of stablecoin legislation. These factors could significantly impact XRP’s price trajectory.
To provide more context, DAI approached Grok AI to gather information on the performance of XRP after the past three halvings. Specifically, DAI requested data on the price movements of XRP at 30 days, 60 days, 90 days, and 120 days following the halving events. Grok AI pointed out that XRP was not listed on major exchanges until 2013, so there is no available data for the price reaction after the 2012 halving.
For the 2016 halving, Grok AI revealed that XRP was trading at $0.005233. Within 30 days, the price experienced a surge of 4.85% to reach $0.005487. Over the next 90 days, XRP increased by 5.54%, and within 120 days, it surged by 21.88% to trade at $0.0063. Surprisingly, the price declined by 50.72% within a year, briefly reaching the $0.002 zone. However, XRP then experienced a bullish reversal, reaching an all-time high of $3.4 on January 7, 2018.
Regarding the third halving in May 2022, Grok AI reported that XRP saw a 2.2% surge after 30 days, a 0.75% increase after 90 days, and a 21.46% surge after 120 days. Within a year, XRP spiked by 521.78%, reaching $1.25 from $0.20.
DAI emphasized to his followers that the 120-day period consistently shows attractive price action for XRP, with surges of 21.88% and 21.46% in the second and third halvings, respectively. Based on this pattern, XRP could potentially rally to $0.6233. However, analysts believe that the bullish sentiment surrounding the XRP ecosystem could amplify this surge by five times, pushing the price to $1.06 by August 2024. Some commentators even predict more significant price increases, with EGRAG estimating $27 for XRP and Leb expecting the asset to reach $3.84 immediately after the halving event.
DAI clarified that the replication of previous price behaviors would depend on certain conditions, including the resolution of the SEC vs. Ripple Labs litigation, the successful launch of Ripple’s stablecoin, and the potential introduction of stablecoin legislation by the U.S. Congress.
As of now, XRP is trading at $0.5370, showing a 4% increase in the last seven days and a 0.94% increase in the last 24 hours.