Bulls are back in the crypto market, and Litecoin (LTC) might be gearing up for a surge that could eclipse Ripple’s XRP, according to recent analysis. Let’s delve into the factors suggesting which cryptocurrency holds a stronger short-term position.
Both LTC and XRP See Green, But Analyst Hints at LTC’s Long-Term Lead
CoinMarketCap data reveals both LTC and XRP experienced bullish momentum last week. XRP climbed over 26%, while LTC rose by a respectable 13%. At the time of writing, XRP sits at $0.53, and LTC trades at $70.6.
These gains pushed both cryptos’ weighted sentiment into positive territory, indicating growing bullish market sentiment. However, despite XRP‘s near-double-digit lead over LTC, an analyst suggests LTC might have the upper hand in the long run.
Technical Breakout Could Send LTC Soaring
Master, a well-known crypto analyst, recently tweeted a chart highlighting how LTC/XRP has been consolidating within a specific pattern. A breakout above this pattern could trigger a significant rally, potentially leading to exponential growth for LTC and potentially outperforming XRP in the coming months or years.
Short-Term Outlook: Bullish Signals for Both, But XRP Appears More Stable
While both LTC and XRP’s MVRV ratios (a bullish indicator) improved last week, with LTC reaching 15% compared to XRP’s 11.8%, Bitcoin remains the clear winner in terms of network activity, evidenced by its significantly higher daily active addresses compared to XRP.
Our analysis of LTC’s daily chart reveals mixed signals. The MACD suggests a bullish advantage, and the RSI hints at a continued price rise. However, the Chaikin Money Flow (CMF) dips, indicating a potential slowdown. Conversely, XRP appears more stable, with all mentioned indicators (CMF, RSI, MACD) exhibiting promising bullish trends. This suggests it might take longer for LTC to outperform XRP.
Conclusion: A Close Race with Unclear Victor
While both LTC and XRP show bullish potential, LTC’s breakout potential and XRP’s current stability make it a close race. It’s crucial to conduct your own research and stay updated on market trends before making any investment decisions.
Also Read: XRP Rallies 35% in Two Weeks: Bullish Signals and Positive Sentiment Fuel the Rise
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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