BTC Falls as Analysts Share Post-Halving Target for XRP and NuggetRush

Following key indicators and expert predictions, bitcoin's recent bottom may set the stage for XRP to hit its all-time high and NuggetRush to hit new price targets after the upcoming halving.

bitcoin (btc) recently suffered a major correction, falling from $72,000 to as low as $61,800. Following this correction, btc's profit/loss ratio now indicates that the leading cryptocurrency has bottomed out.

With the cryptocurrency market regaining momentum, Leb, a popular market analyst, predicted that Ripple (XRP) will be one of the most bullish altcoins after the halving. Meanwhile, NuggetRush appears to be leading all gaming tokens as it reaches its target price of $1.00.

Profit/Loss Ratio Points to bitcoin Bottom

Reacting to macroeconomic tremors and profit taking ahead of the halving event, bitcoin has suffered one of its most bearish weeks in 2024. While bitcoin is recovering from its recent low of $61,800, the earnings/earnings ratio losses (P/L) suggests that the bottom has been reached.

Ali Martinez twitter.com/ali_charts/status/1779597304002953383?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1779597304002953383%7Ctwgr%5Ef78d1b3222cc335f1e66b0eb314633c2fb3adf28%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fthecryptobasic.com%2F2024%2F04%2F15%2Fbitcoin-profit-loss-ratio-indicates-possible-market-bottom%2F” rel=”nofollow” target=”_blank”>explained that the P/L ratio has fallen below 1, meaning that more btc holders are making losses than gains. He added that a drop below one has acted as a bottom for bitcoin over the past six months. btc remains one of the top cryptocurrencies to buy now as analysts have predicted that the halving will cause a price surge above $100,000.

NuggetRush causes a sensation in the GameFi market

NuggetRush (NUGX) is a new project that has drawn a lot of attention in the GameFi space. NuggetRush is pioneering a paradigm shift in the GameFi sector by merging P2E gaming with artisanal mining, nfts, meme culture, gambling, and a unique social impact model.

The cornerstone of the NuggetRush ecosystem is its mining game. Within the game, players will face exciting mining challenges in search of gold and other precious minerals. NuggetRush stands out as the leading defi gaming platform, allowing players to convert their virtual prizes into real gold, cash, and NUGX, the platform's ERC20 coins.

NuggetRush has even more income tiers within its platform. Players who find the rare trending nft, RUSHGEM, can stake them for up to 20% APY. NuggetRush's social impact model adds an extra layer of uniqueness to the platform. Poor artisanal miners in underdeveloped countries will be helped using the profits generated on NuggetRush.

These unique features helped NuggetRush achieve an exceptional blockchain ICO, where over $3.8 million was raised. The NUGX token will be airdropped in less than a week. Although NUGX will trade at $0.020, analysts have set a price target of $1.00 for the token in 2024.

Ripple set to set new all-time high after halving

Although Ripple has been the worst performing token among the top 10 altcoins, things seem to be changing for the altcoin. Since its recent drop to $0.43, XRP has risen 17% to recover above the $0.50 support level. Leb, a top crypto analyst, is even more bullish on Ripple in the coming weeks.

According to Leb, XRP could surpass its ATH of $3.84 right after the bitcoin halving. Technical indicators also support a major bullish price move for XRP. The XRP/btc chart has formed a falling wedge pattern. This bullish reversal pattern hints at a possible 70% rise for XRP in the coming weeks.

Conclusion

Although the cryptocurrency market is going through a rough patch, there are positive signs that hint that a reversal is on the horizon. While XRP and bitcoin are the top cryptocurrencies poised to post significant gains, NuggetRush is on track to surpass them as it chases its $1.00 price target.

Learn more, visit the NuggetRush pre-sale website.

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