2024

Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrps-performance-and-expectations-against-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP’s Performance and Expectations Against Bitcoin</a> 
<a href="https://en.coin-turk.com/bitcoins-fall-and-the-current-state-of-ada-xrp-and-solana-coins-a-crypto-market-review/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP</a> has lagged behind <a href="https://coin-turk.com/btc-son-hamlesinin-ardindan-hangi-yone-gidecek" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> in terms of price performance so far in 2024, with a roughly 2.5% drop since the beginning of the year compared to the leading cryptocurrency’s 60% gain in the same period. In contrast, the XRP/<a href="https://coin-turk.com/bitcoin-icin-kritik-gun-bugun-bitcoin-fiyati-45-000-dolar-olacak-mi-1-milyar-dolarlik-varlik-ne-olacak" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> pair has experienced a 40% decline since the start of the year. However, the pair is showing signs of recovery in the days leading up to <a href="https://en.coin-turk.com/michael-saylor-ignites-expectations-with-bitcoins-2024-trajectory-prediction/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s 2024 halving event.
<h2 class="p1" style="text-align: justify" id="what-to-expect-on-the-xrp-front">What to Expect on the XRP Front?</h2>
Historically, XRP has tended to outperform Bitcoin during periods surrounding halving events. For instance, the XRP/<a href="https://en.coin-turk.com/bitcoin-enters-oversold-zone-as-rising-bond-yields-exert-pressure-on-risky-assets/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> pair surged over 100% following Bitcoin’s third halving event in May 2020. Similarly, during the second Bitcoin halving event in July 2016, the pair saw an 85% increase. These patterns raise the likelihood of XRP outperforming Bitcoin following the halving event on April 19th.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-339547 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/XRPBTC-GRAFIK-1.png" alt="" width="2658" height="1314">
XRP/BTC gains are largely due to a decrease in Bitcoin’s dominance following selling pressure. This trend indicates that investors often shift their investments from Bitcoin to <a href="https://coin-turk.com/resmen-firladi-sevilen-altcoin-yuzde-4205-buyuk-artis" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoin</a> projects after such events, typically initiating a period known as altseason.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-339546 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/btcd.png" alt="" width="2668" height="1308">
One reason for this is that altcoin projects offer significant short-term gains due to their lower market values and higher volatilities compared to Bitcoin.
<h2 class="p1" style="text-align: justify" id="xrp-btc-chart-analysis">XRP/BTC Chart Analysis</h2>
XRP/BTC pair has been moving within a falling wedge formation characterized by two descending, converging trend lines since February. A falling wedge formation is typically known as a bullish reversal trend that resolves after the price breaks above the upper trend line and rises to a length equal to the maximum distance between the upper and lower trend lines. Applying the same technical analysis rule to the ongoing XRP/BTC pair suggests a breakout target of approximately 0.00001022 BTC, a 16.75% increase from current levels, for April/May.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-339545 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-gunluk.png" alt="" width="2674" height="1316">
In the 2024 outlook on a weekly timeframe, XRP’s price target against Bitcoin is expected to reach the 50-week EMA level of 0.00001449 BTC, indicating a significant 70% increase from current price points by June. This is particularly notable as investors have consistently focused on the same 50-week EMA level as a bullish target following the previous two Bitcoin halving events.
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-339544 size-full" src="https://coin-turk.com/wp-content/uploads/2024/04/xrp-haftalik.png" alt="" width="2674" height="1316">
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/xrps-performance-and-expectations-against-bitcoin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP’s Performance and Expectations Against Bitcoin</a></h5>

XRP’s Performance and Expectations Against Bitcoin

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