Veteran trader Peter Brandt highlights XRP's recent market performance, describing its chart as the most bullish in the crypto world after breaking a seven-year resistance pattern. He also suggests that Litecoin (LTC) might follow XRP's bullish trend. Despite his optimism for these altcoins, Brandt remains long-term bullish on Bitcoin, though he acknowledges that some US stocks might outperform it in the coming years.
PEPE, a frog-themed meme coin, has reached a $10 billion market cap, surpassing Litecoin after an 18% price increase. This surge has propelled PEPE to the 21st position among cryptocurrencies. The rise is attributed to increased network activity, with more active, new, and zero-balance addresses indicating growing demand. Technical indicators suggest potential further gains, though market conditions remain volatile.
Analysts suggest Litecoin (LTC) may experience a significant price surge similar to XRP's past breakout, driven by increased investor interest and trading volume. A fractal pattern in LTC's price action mirrors XRP's previous behavior, and technical indicators like Bollinger Bands suggest growing volatility, which often precedes upward price movements. Rising average balances in LTC-holding addresses and significant short liquidations further support the potential for a substantial rally.
Litecoin significantly outpaces Cardano in terms of active addresses, with 357,260 compared to Cardano's 28,630, indicating higher transaction activity on the Litecoin network. Despite Cardano's higher market cap, Litecoin's increased activity could signal a potential price rise. Both cryptocurrencies show promise, with potential mid-term price targets of $0.79 for ADA and $95.37 for LTC.
As the Bitcoin "halving" event begins, Bitcoin Cash, often fluctuating with Bitcoin, and Ether, considered the "silver" to Bitcoin's "gold," are among the top cryptocurrencies to watch. Solana, a rival to Ether, boasts faster and cheaper transactions, while Litecoin, dubbed "silver to Bitcoin's gold," shares similarities with Bitcoin and experiences similar fluctuations. Dogecoin, initially a meme coin, has garnered support from celebrities and maintained its position among major cryptocurrencies.
The cryptocurrency market experienced a significant sell-off, with Bitcoin dropping nearly 8% and other major cryptocurrencies like XRP, Litecoin, and Bitcoin Cash experiencing even greater declines. The total cryptocurrency market cap has decreased by approximately $60 billion in the past 24 hours. While the exact reasons for the drop are unclear, potential factors include concerns over China's economic outlook, low trading volumes, and regulatory actions. Despite the recent downturn, Bitcoin is still up over 56% year to date.
Shiba Inu (SHIB) has surpassed Litecoin (LTC) in market capitalization, taking the fourteenth spot in the crypto rankings. Despite a market downturn, SHIB's bullish investors have placed active orders to defend their positions, with demand exceeding supply. The price of SHIB is predicted to consolidate above the $0.000007 support level, with potential for a rally back toward $0.000010 if industry headwinds taper off. Shiba Inu's growing adoption and expansion into markets like India and China contribute to its thriving community.
Crypto Twitter influencers are predicting an altcoin season on the horizon, as technical indicators suggest a potential breakout for altcoins. Dogecoin (DOGE) has shown resilience and could rally with enhanced network development. Litecoin (LTC) is garnering attention ahead of its halving event, with increased adoption in payments and ventures into smart contracts. Polygon (MATIC) is recovering from a setback caused by SEC classification as a security, relying on strong fundamentals and witnessing an upsurge in user engagement. The possibility of an altcoin rally will depend on market conditions, including Bitcoin's price movement.
Bitcoin traded flat while Ether gained in a mixed crypto market. Solana rebounded after being labeled a security by the U.S. financial regulator. Litecoin led the winners, buoyed by its inclusion in the tokens trading on the Wall Street-backed EDX Markets exchange. The total cryptocurrency market cap remained steady, while NFTs experienced a decline in trading volume. U.S. stock futures were little changed, with limited trading hours expected due to the July 4 public holiday.
Litecoin, often referred to as the "silver" to Bitcoin's "digital gold," has experienced a surge in value and regained its spot in the top 10 digital assets by market cap. This renewed interest is likely due to its listing on the EDX Markets exchange, backed by Wall Street heavyweights, and its upcoming halving event, which will reduce the supply of coins for mining rewards. Litecoin aims to be a faster and cheaper alternative to Bitcoin but has struggled to gain widespread adoption until now.
XRP is facing resistance at $0.55 and support at the 100-day moving average of $0.465. Litecoin is expected to rise to $100 after its next halving event. Tradecurve presale has shown stability and is expected to increase by 20% in Stage 4. The platform offers a wide range of trading options and focuses on privacy. Its native token, TCRV, is expected to surge to $0.018 in Stage 4 and has long-term growth potential, with analysts predicting a 50x rise when its presale finishes and a 100x jump when the token gets listed on Uniswap or a major CEX following its launch.
A video from 2018 has surfaced showing future SEC Chairman Gary Gensler telling institutional investors that Ethereum, Litecoin, Bitcoin, and Bitcoin Cash are not securities, contradicting his recent suggestions that all cryptocurrencies other than Bitcoin are securities. Gensler's comments likely will anger the crypto industry and many cryptocurrency owners, who claim Gensler failed to provide guidance about the legality of specific tokens before embarking on what many have called a "regulation by enforcement strategy." The SEC declined to comment on the record about any potential conflicts between Gensler's 2018 remarks and the agency's current legal stance.
Crypto strategist Michaël van de Poppe believes that Litecoin (LTC) and XRP could influence the price action of the broader digital asset markets amid the current crypto correction. Pseudonymous trader DonAlt is also keeping a close watch on XRP and LTC as he believes the two altcoins have underlying narratives that could catalyze bullish price action. Van de Poppe is also long-term bullish on decentralized oracle network Chainlink (LINK) and is accumulating LINK at $5 and Litecoin at $77.
Bitcoin continues its sluggishness in June, trading at around $26,950, down 0.5% over the past 24 hours and the second consecutive day BTC dropped below $27,000. The downward trend from May when bitcoin’s price dipped almost 4% to break a four-month streak of gains. Other major digital assets were mostly down, albeit not by much, although litecoin was an exception as it recently rose more than 7%. The crypto market is in a builder's market phase, with a lot of interesting protocols and companies being launched, and venture funding creeping back in, setting the foundations for the next bull cycle.
If Bitcoin breaks out to the upside, XRP, Litecoin, Conflux, and Render Token may follow it higher. XRP is trying to start a recovery, Litecoin has been trading in a tight range, Render Token is in an uptrend, and Conflux is trading inside a descending channel pattern. However, the short-term picture looks uncertain as the price is stuck inside a range for the past several days.
