The post Litecoin to Follow XRP Price Rally: Could It Hit $420 Soon? appeared first on Coinpedia Fintech News
The crypto market is buzzing with excitement as many analysts are betting high for the biggest altseason ever, potentially starting in the next 8-10 days. Back in late 2021, when Bitcoin’s dominance dipped, altcoins exploded with over 140% growth. Experts now see similar conditions brewing, with Bitcoin pushing toward $100,000. After Bitcoin’s rally, altcoins often take the lead, and this could be a golden chance for massive gains, especially for selective altcoins.
Veteran trader Peter Brandt weighed in on this, suggesting that Litecoin could hit $420, similar to XRP’s recent rise. He posted a chart on social media comparing the two coins, which has excited the crypto traders looking to diversify their portfolios.
Surprisingly, Litecoin (LTC) is showing some quick price movements. The coin surged by over 21% in just one day, currently trading above $120, and its trading volume reached $2.58 billion, signaling strong interest from investors. Keeping the indicators and chart in mind analysts think Litecoin could follow in the footsteps of XRP, which recently experienced a massive rally.
Is Litecoin Ready for Altcoin Season?
The Altcoin Season Index is at 59, meaning Bitcoin is still leading the market, but some altcoins like Litecoin are starting to rise and show promise. The key factor that boosted this bullish sentiment is the renewed interest of big bulls in the crypto market, boosted by Donald Trump’s election victory and the potential resignation of US SEC Chair Gary Gensler.
These events are fueling expectations of more favorable regulations for cryptocurrencies. Plus, the possibility of a Litecoin ETF approval in the US has traders excited, as it could increase demand for the asset.
Based on the charts he also sees a better opportunity for XRP which hit $2 today and flipped major coins like Solana and USDT in market cap. Taking the 3rd position in the crypto market.
What Analysts Are Saying
Crypto experts like Tony Severino and Crypto Snorlax believe Litecoin is positioned for a “parabolic rally.” Severino noted that Litecoin is showing bullish indicators, including breaking above key resistance levels. He compared Litecoin’s chart to XRP’s recent price action, suggesting that Litecoin could soon experience a similar upward surge. Severino speculates that LTC could even reach its all-time high of $412, or potentially higher.
Meanwhile, Crypto Snorlax emphasized the strong correlation between old altcoins like Litecoin and XRP. He pointed out that Litecoin just broke above an 18-month resistance level, which he sees as a sign that the coin could rally further, possibly reaching new heights of $450.
Moreover, Litecoin is gaining attention with its strong market momentum and upcoming network upgrades, making it a promising altcoin to watch for potentially explosive growth during the current altseason. But if that gave you the impression that all altcoins may explode in 2025, think again not all altcoins are showing signs of breakout hence make your choice wisely.