Veteran trader Peter Brandt recently posted on social media, suggesting that the price of Litecoin could rise to $420, which has generated optimism in the market. Notably, the LTC cryptocurrency surged nearly 21% today, with trading volume soaring, indicating strong market confidence. Furthermore, Brandt has attracted the attention of investors, indicating that this cryptocurrency may follow XRP's strong upward trend in the coming days.
Peter Brandt suggests that the price of Litecoin will rise to $420
The price of Litecoin has recently strengthened, soaring over 21%, with trading volume also significantly increasing. It is worth noting that this rise occurred against the backdrop of renewed interest from investors in the digital asset space, especially after Donald Trump's victory in the election.
Furthermore, news of the resignation of U.S. Securities and Exchange Commission Chairman Gary Gensler has further fueled bullish sentiment in the market. That said, many in the crypto community anticipate that top altcoins will rise further alongside Bitcoin.
On the other hand, expectations that the U.S. may approve a Litecoin ETF have also sparked traders' interest. Among them, top cryptocurrency market expert and veteran trader Peter Brandt has sparked discussion in the market.
In a recent X post, Brandt shared a price chart for LTC, indicating that this cryptocurrency could reach $420 in the short term. Additionally, the expert said while sharing the chart, 'Can LTC pull XRP along??' This further fueled market sentiment.
It is worth noting that the price of XRP has recently surged significantly, breaking the $2 barrier and surpassing the market capitalization of Solana and USDT, triggering optimism in the market. That said, Peter Brandt's comparison of LTC and XRP has also sparked discussion in the market.
LTC price rises
The price of LTC rose over 21% today, trading at $122.63, while its daily trading volume soared 263% to $2.92 billion. Notably, this cryptocurrency reached a 24-hour high of $129.18. Additionally, CoinGlass data shows that Litecoin futures open interest surged 37% to $620.31 million, indicating strong interest in this cryptocurrency.
In this context, Peter Brandt's posts have sparked speculation about further increases in cryptocurrency prices. Moreover, given the expectations of cryptocurrency-supporting legislation under Donald Trump's leadership in the U.S., experts remain optimistic about the altcoin sector.
Additionally, this cryptocurrency has recently repositioned itself as a meme coin, which has also garnered attention. Notably, top meme coins have received significant boosts, as evidenced by the rise of Dogecoin, Shiba Inu, and others. In this context, LTC's repositioning as a meme coin has also sparked market discussions.
