Peter Brandt hints Litecoin price could reach $420
The price of Litecoin is rising
Renowned trader Peter Brandt shared a post on the social platform X, hinting at a potential rise in Litecoin (LTC) price to $420. This statement coincided with a sharp 21% surge in LTC within a single day.
In his post on X, Brandt included a chart indicating that Litecoin might reach $420, accompanied by the question, "Can LTC pull another XRP????" This further fueled optimistic sentiments among market participants.
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The recent 21% rise in Litecoin's price aligns with renewed interest in digital assets, driven partly by political developments such as Donald Trump's victory in the U.S. elections.
Why XRP's price is rising
In recent days, XRP has experienced a significant price increase, breaking key resistance levels at $1.30 and $1.50, driven by strong investor demand. This rally, which began in early November, has been accompanied by a sharp rise in trading volumes, reflecting growing interest from both retail and institutional participants.
The price surge has been fueled by increased trust in Ripple following the company’s recent legal victories against the SEC, boosting long-term optimism for XRP. Additionally, broader market trends, including Bitcoin’s dominance and clearer regulatory frameworks, have created favorable conditions for growth.
Meanwhile, XRP's market capitalization has reached an impressive $110 billion.
