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📈 Price Predictions
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Litecoin Price Analysis — Can the Upcoming Halving Push the Price to $150?

  • Denys Serhiichuk
    📈 Price Predictions

    After spectacular growth, Litecoin is moving even higher. Does LTC have strength for a new bull run before halving?

Litecoin Price Analysis — Can the Upcoming Halving Push the Price to $150?
Cover image via 123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

While the cryptocurrency market is waiting for a new bull run or a potential decline, Litecoin keeps going up. Currently, its quotes have increased by almost 4% over the last day; it is the only coin out of the top 5 who has not lost the value compared to its price yesterday.

Litecoin chart by CoinMarketCap

Besides the upcoming halving, the price increase might have been caused due to the partnership of Litecoin Foundation with the Bibox exchange and the blockchain-company Ternio, whose goal is to issue a plastic cryptocurrency debit card.

“The upcoming LTC reward halving will push price to $160-$170 per LTC in the middle of July, but for 1 week before halving will happen we are waiting that traders will start to fix their profit and price will have a correction on $120-$130 price level,” says Artur Dzhalilov, CEO at Vexel.

Now, let’s get to the chart to analyze the future LTC rate.

 LTC/USD chart by TradingView

On the hourly graph, the "digital silver" is located under the bullish tendencies, even after a prolonged bull run. In this case, traders might expect the price to be at the nearest resistance level of $140 in the short-term scenario. The RSI indicator confirms it, as its lines are moving north, to the oversold area. Moreover, it looks like trading volumes are not going to decrease, remaining at their maximum positions.

LTC/USD chart by TradingView

On the 4-hour chart, the scenario looks less favorable, as Litecoin has still not faced an expected rollback. The MACD indicator is bearish, confirming the upcoming price drop.

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LTC Price Prediction: $150 by Summer. How Will the Halvening Impact LTC’s Price?

LTC Price Prediction: $150 by Summer. How Will the Halvening Impact LTC’s Price?

Besides, the trading volumes had also declined compared to the time when LTC rocketed from the 6th place to the 4th in the global crypto ranking. Taking it into consideration, the correction might push the price back to the nearest support at $125.

The price of LTC is trading at $137.62 at the time of writing.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and make predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others.

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📰 News
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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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