Peter Brandt points to a rise in Litecoin price to $420 mirroring the path of XRP

Veteran trader Peter Brandt recently sparked optimism in the market with his social media post, hinting at a possible rise in Litecoin price to $420. This is largely due to the LTC cryptocurrency seeing a nearly 21% increase today and its volume skyrocketing, indicating strong market confidence. Additionally, Brandt also caught the attention of investors and suggested that the cryptocurrency could follow XRP’s robust rally in the coming days.

Peter Brandt hints at a rise in Litecoin price to $420

Litecoin price has seen a strong rally recently, rising by more than 21% while trading volumes also shot up. Notably, this rally comes amid renewed investor interest in the digital asset market, especially after Donald Trump’s election victory.

Additionally, the update on the resignation of US SEC Chairman Gary Gensler further fueled bullish sentiment in the market. However, many in the crypto community expect the top altcoins alongside Bitcoin to see further gains.

On the other hand, the expectation of a possible Litecoin ETF approval in the USA has also piqued the interest of traders. Against this backdrop, top crypto market expert and experienced trader Peter Brandt has sparked discussions in the market.

In a recent X post, Brandt shared an LTC price chart that suggests the cryptocurrency could reach $420 in the near term. Additionally, the expert said, “Can LTC pull another XRP???” while sharing the chart, which further fueled sentiment.

Notably, XRP price has seen a massive increase recently and broke the $2 mark. Furthermore, it also surpassed the market capitalization of Solana and USDT, sparking optimism in the market. However, Peter Brandt’s comparison between LTC and XRP has sparked discussions in the market.

LTC price is rising

LTC price rose more than 21% today to trade at $122.63, while one-day trading volume increased 263% to $2.92 billion. Notably, the cryptocurrency hit a 24-hour high of $129.18. Additionally, data from CoinGlass showed that open interest in Litecoin futures increased by 37% to $620.31 million, suggesting strong market interest in the cryptocurrency.

Against this background, Peter Brandt’s post sparked speculation about further price increases for cryptocurrencies. Additionally, experts remain optimistic about the altcoin sector given the anticipation of pro-crypto legislation in the US under Donald Trump.

Additionally, the cryptocurrency has also gained traction as it recently rebranded itself as a meme coin. The top meme coins in particular have seen a significant boost, as evidenced by the rally in Dogecoin, Shiba Inu and others. Against this background, the renaming of LTC into a meme coin has also fueled discussions in the market.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has earned a reputation as a thorough research analyst and insightful journalist. He loves exploring the dynamic nuances of the financial landscape. Rupam is currently an editor at Coingape and has expertise that goes beyond traditional boundaries. His responsibilities include breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful business news. Rupam’s career has been shaped by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with diverse audiences.

Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.