Altcoins
XRP Soars 35%, Litecoin Soars 21%: Crypto FOMO
As the cryptocurrency market witnesses a remarkable recovery, two leading altcoins are gaining significant traction from investors, XRP and Litecoin [LTC]These goods driven from intense FOMO [fear of missing out]have seen significant price increases this week, positioning themselves as high-risk, high-reward investments.
LTC, for example, is up 21% since bottoming out a week ago. Often called “the silver to Bitcoin’s gold,” the cryptocurrency has processed about $3 billion in transactions compared to over $100,000 in daily averages. That’s over 50% of its market cap, a significant milestone among Layer 1 protocols.
Ripple-affiliated XRP has rallied over 35% after a weekly low. Continuing its impressive upward trajectory, the altcoin recently hit $0.56. This surge is in tandem with the broader market trend where Bitcoin has bounced strongly from what many analysts are labeling as a bear trap. Additionally, there are early signs that small-cap stocks may finally be entering an expansion phase, adding to the overall bullish sentiment.
$XRP just hit $0.56 and is running again! This is happening as Bitcoin has bounced off what many analysts are calling a bear trap, and we are also seeing what may be the first indication of small-cap stocks *finally* entering a boom. If this is what we are hoping for… buckle up and wear a helmet for your safety!
The price increase coincides with upcoming events in the XRPL ecosystem and broader regulatory developments.
XRP: Virtune ETP and CME Boost Index
Virtune, a regulated digital asset manager based in Sweden, has launched an exchange-traded product based on XRP [ETP]. While the full implications of this ETP are yet to be seen, the fund is physically backed by XRP and is priced at $12 per unit. As TronWeekly reports, this development could lead to an influx of institutional investors, adding market credibility and liquidity to the token.
Additionally, the Chicago Mercantile Exchange [CME] has launched an official price index for XRP, aligning the altcoin with other commodities like oil. This indicates that once the SEC lawsuit is settled, the Ripple-backed token will trade like a commodity rather than a security, paving the way for new markets and investors to enter.