Despite recent modest gains, analysts predict a significant price surge for Ripple's XRP, with targets ranging from $1 to $6, bolstered by expectations of a bullish market cycle and upcoming Bitcoin halving. Ripple's XRP has recently consolidated around $0.62-$0.63, witnessing smaller gains on a monthly scale than most leading cryptocurrencies.

Numerous analysts predict that the asset is on the verge of a price explosion. Financial expert and investor Vandell AlJaraah believes XRP holders should not part with their stash now since "we're at the onset of a bullish cycle, with the altcoin season yet to peak & the Bitcoin halving ahead."

The upcoming halving should take place in less than a month, and historically has been followed by a massive resurgence of the entire cryptocurrency market. The outcome of Ripple's ongoing legal battle with the US SEC, scheduled for April 23, may impact the price of the cryptocurrency.