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Veteran trader Peter Brandt recently sparked market optimism with his social media post, hinting at a potential Litecoin price rally to $420. Notably, this comes as the LTC crypto has noted a surge of nearly 21% today with its volume skyrocketing, indicating strong market confidence. In addition, Brandt also caught the investors’ eyes, indicating that the crypto could follow XRP’s robust rally in the coming days.
Peter Brandt Hints At Litecoin Price Rally To $420
Litecoin price has witnessed a robust rally recently, soaring more than 21% while its trading volume also skyrocketed. Notably, this rally comes amid renewed market interest in the investors towards the digital assets space, especially after Donald Trump’s election victory.
In addition, the resignation update of the US SEC Chair Gary Gensler has further fueled the bullish sentiment in the market. Having said that, many in the crypto community anticipate the top altcoins to witness further gains ahead alongside Bitcoin.
On the other hand, the expectation of potential Litecoin ETF approval in the US has also sparked interest among traders. Amid this, top crypto market expert and veteran trader Peter Brandt has sparked discussions in the market.
In a recent X post, Brandt shared an LTC price chart, which indicates that the crypto could hit $420 in the near term. In addition, the expert said “Can LTC pull another XRP????” while sharing the chart, which has further fueled sentiment.
Notably, XRP price has noted a massive surge recently, soaring past the $2 mark. In addition, it also surpassed the market cap of Solana and USDT, sparking optimism in the market. Having said that, the comparison between LTC and XRP by Peter Brandt has triggered discussions in the market.
LTC Price Rallies
LTC price was up more than 21% today and exchanged hands at $122.63, while its one-day trading volume rocketed 263% to $2.92 billion. Notably, the crypto has touched a 24-hour high of $129.18. Furthermore, CoinGlass data showed that Litecoin Futures Open Interest soared 37% to $620.31 million, suggesting strong market interest in the crypto.
Amid this, Peter Brandt’s post has sparked speculations over further rallies in the crypto’s price. In addition, it also comes as the experts remain bullish on the altcoins sector, given the anticipation over pro-crypto legislation in the US under Donald Trump.
Besides, the crypto has also gained traction as it rebranded itself as a meme coin recently. Notably, the top meme coins have received a significant boost, as evidenced by the rally in Dogecoin, Shiba Inu, and others. Amid this, the rebranding of LTC as a meme coin has also fueled discussions in the market.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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