Analysts name a token whose value will grow by 70% more than bitcoin

According to experts, the XRP cryptocurrency is showing signs of recovery ahead of the bitcoin halving. Bullish signals could support this momentum, potentially strengthening it after the event.

Historically, the XRP price has shown a tendency to outperform bitcoin in the periods leading up to halving events. The XRP/BTC pair gained more than 100% after the third BTC halving in May 2020. Similarly, the pair jumped 85% after the second Bitcoin halving in July 2016.

These patterns increase the likelihood that XRP will outperform bitcoin after the upcoming April 19 halving. The growth of XRP/BTC is largely due to the decrease in bitcoin’s dominance after the halving. This trend suggests that after this event, traders often shift their investments from bitcoin to altcoins, ushering in a period commonly referred to as altcoin season.

One of the reasons is that altcoins can offer significant short-term gains due to their lower market capitalization and higher volatility compared to bitcoin.

The 2024 forecast on the weekly timeframe predicts that XRP’s price target against Bitcoin will reach the 50-week exponential moving average. This would mean a significant 70% increase from current price points by June.