Altcoins
Litecoin (LTC) and Ripple (XRP) price could trigger a bull run soon
Cryptocurrency markets have weathered the selling pressure generated by Mt. Gox BTC transfers and the liquidation of seized assets by the German government. As a result, Bitcoin price has made a nice breakout and surged above the key resistance zone, confirming a rise above the bearish captivity. With this, traders seem to have jumped into a “FOMO” pit, as altcoins like Litecoin (LTC) and Ripple (XRP) have gained immense attention.
The data from Holiness suggests that LTC and XRP tokens are experiencing higher levels of FOMO, which could lead to a euphoric surge in value. The tokens have been overshadowed by newly launched AI tokens, RWA tokens, memecoins, etc., and thus trader focus on primitive tokens has faded over time. With the rising weighted sentiment, the token prices are expected to rise in the coming days.
THE XRP Price attempts to reclaim levels above the multi-year ascending trend line, which could trigger a fresh rally to $1. The RSI is breaking above the descending resistance after failing several times previously. Furthermore, the MACD is positioned for a bullish crossover. Therefore, if the price closes the weekly trading above the trend line, it could find support in the $0.65 to $0.7 range, where bears are dominant.
As a result, the next few days could be crucial for the XRP price rally, as the $1 recovery will depend on the weekly close. On the other hand, Litecoin Price triggered a rally above the important trend reversal zone, reviving the possibility of a 3-digit hit soon.
After bouncing from the local lows, LTC price cleared a key resistance between $65.34 and $67.09. This move also caused the RSI to rise above the multi-month descending trendline, indicating the start of a new uptrend. Furthermore, +Di and -Di are close to validating a bullish crossover, which could elevate the levels to the interim resistance at $88. If the bulls maintain above-average gains, a rise to $94 could be imminent.