Peter Brandt suggests that amidst renewed market optimism and strong trading volume, the price of Litecoin may rise to $420, similar to the recent surge of XRP.
Veteran trader Peter Brandt recently posted on social media, suggesting that the price of Litecoin may rise to $420, igniting optimism in the market. Notably, the LTC cryptocurrency soared nearly 21% today, with trading volume surging, indicating strong market confidence. Additionally, Brandt attracted investors' attention by suggesting that this cryptocurrency could follow XRP's strong surge in the coming days.
Peter Brandt hints that the price of Litecoin will rise to $420
The price of Litecoin has recently surged strongly, rising over 21%, with trading volume also significantly increasing. Notably, this rise occurred against the backdrop of renewed interest from investors in the digital asset space, especially following Donald Trump's election victory.
Furthermore, the resignation news of SEC Chairman Gary Gensler has further fueled bullish sentiment in the market. That said, many in the crypto community expect top altcoins to rise further alongside Bitcoin.
On the other hand, the expectation that the U.S. may approve a Litecoin ETF has also sparked traders' interest. Among them, top cryptocurrency market experts and veteran trader Peter Brandt have generated discussions in the market.
In a recent X post, Brandt shared a chart of LTC prices, indicating that this cryptocurrency may reach $420 in the short term. Moreover, the expert remarked while sharing the chart: 'Can LTC pull XRP up again??' This further fueled market sentiment.
It is worth noting that the price of XRP has recently surged significantly, breaking through 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 discussions in the market.
LTC price rises
The price of LTC rose over 21% today, trading at $122.63, while its daily trading volume surged 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.
Amidst this, Peter Brandt's post sparked speculation about further increases in cryptocurrency prices. Moreover, given the expectation of pro-cryptocurrency 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, also gaining attention. Notably, top meme coins have received significant boosts, evidenced by the rise of Dogecoin, Shiba Inu, and others. Amidst this, LTC's repositioning as a meme coin has also sparked market discussions.
