The XRP coin has made an impressive rise over the weekend, gaining 28% and climbing to $2.50. This means that XRP has risen above the $2 level for the first time in the last 6 years. Thus, it has left behind major rivals such as Solana and USDT, and its market value has reached an all-time high of $136 billion. The 364% XRP rally in November brings an increase of up to $4.3 on the agenda. In this process, famous analyst Peter Brandt states that Litecoin can follow XRP and make a similar rally.
Experts predict that the XRP coin could start a rally towards a new all-time high in December. The third-largest altcoin recorded a significant price move after an 84-month stagnation with a single large XRP monthly candle. This sudden surge is considered a turning point for XRP, potentially indicating the start of a new trend after a long period of consolidation. Veteran trader Peter Brandt points to a classic breakout of the pennant and pole formation on a multi-year timeframe.
With weekly gains exceeding 75%, XRP is leading the altcoin market by outperforming other major cryptocurrencies such as Ethereum. As a result, crypto market experts emphasize that a spot ETF for XRP should be launched. Major companies such as Bitwise, Canary and 21Shares have filed spot ETF applications for XRP. ETH Store President Nate Geraci expects other companies to enter the field with the increasing interest in XRP-based investment products. Pro-XRP lawyer Jeremy Hogan thinks that a spot XRP ETF could be launched by mid-2025.
As of now, XRP is trading at $2.40, up 27%, with a market cap of $136 billion. According to Coinglass data, XRP’s open interest has increased by 28.67% to $4.21 billion. 24-hour liquidations are notably high: $38 million worth of short positions were liquidated, while more than $14 million worth of long positions were liquidated. Some market analysts expect the XRP price to rise to $4.3 in the next round.
Peter Brandt, on the other hand, sparked market optimism by stating in his social media post that Litecoin’s price could rise to $420. In particular, the rapid increase in LTC’s volume, which gained 21% in value, is noteworthy. Brandt stated that Litecoin could follow XRP’s strong rally and that investors should follow it. It is important that this rally takes place at a time when interest in crypto assets has increased, especially after Donald Trump’s election victory. In addition, the resignation of US SEC Chairman Gary Gensler also supported the rise in the markets. The crypto community expects to see other altcoins gain in addition to Bitcoin. A possible ETF approval for Litecoin has also created excitement among traders.