XRP coin continued its phenomenal rise over the weekend, gaining another 28% and reaching as high as $2.50. XRP is trading above $2 for the first time in 6 years. Thus, it surpassed giants like Solana and USDT and its market capitalization reached an all-time high of $136 billion. The 364% XRP rally in November requires a break above the all-time high of $4.3. Meanwhile, renowned analyst Peter Brandt says Litecoin is also likely to follow XRP coin’s lead and stage a rally.
Is XRP coin hitting an all-time high?
According to experts, XRP coin could make a move towards its all-time high in December. The third-largest altcoin reached a significant milestone by breaking 84 months of stagnant price action with a single explosive XRP monthly candle. This dramatic move marks a turning point for the cryptocurrency. It marks the start of a new trend after potentially years of consolidation. Veteran trader Peter Brandt shares a classic breakout from a pennant and pole pattern over a multi-year time frame.
With weekly gains exceeding 75%, XRP is dominating the entire altcoin space, outperforming other giants like Ethereum. As a result, crypto market experts are once again emphasizing the need for a spot XRP ETF in the market. Three major firms – Bitwise, Canary and 21Shares – have applied for spot XRP exchange-traded funds (ETFs) targeting the third-largest cryptocurrency by market capitalization. ETH Store President Nate Geraci believes other issuers will join the race as interest in XRP-based investment products grows. Pro-XRP lawyer Jeremy Hogan believes that a spot XRP ETF could arrive by mid-2025.
Currently, the XRP price is trading up 27% at $2.40 and has a market capitalization of $136 billion. Coinglass data shows that XRP open interest increased by 28.67% to $4.21 billion. Also, 24-hour liquidations attracted attention. There were $38 million in short liquidations and over $14 million in long liquidations. Some market analysts believe that XRP is targeting the next leg of the rally to $4.3.
Is a rally coming for Litecoin too?
On the other hand, veteran trader Peter Brandt recently sparked market optimism with his social media post, hinting that Litecoin price could rise to $420. Notably, the LTC crypto recorded an increase of nearly 21% today as its volume skyrocketed. In addition, Brandt drew investors’ attention by stating that the cryptocurrency could follow XRP’s strong rally in the coming days. This rally comes amid renewed market interest from investors in the cryptoassets space, especially after Donald Trump’s election victory.
In addition, the resignation update of US SEC Chairman Gary Gensler further fueled the bullish sentiment in the market. However, many in the crypto community expect the top altcoins to witness more gains alongside Bitcoin. On the other hand, the prospect of potential Litecoin ETF approval in the US has also sparked interest among traders. Meanwhile, top crypto market expert and veteran trader Peter Brandt has sparked controversy in the market. In a recent X post, Brandt shared an LTC price chart showing that the crypto could reach $420 in the near term. In addition, the expert pointed out the similarity between XRP and LTC while sharing the chart.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
