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- XRP approaches its 2018 all-time high amid Ripple’s ongoing legal battle with the SEC.
- Litecoin gains momentum as ETF approval rumors increase investor confidence.
According to Altcoin Buzz, Ripple’s XRP is once again under review by the United States Securities and Exchange Commission (SEC). Still, the XRP community seems unconcerned as the crypto moves toward its 2018 all-time high. Not just XRP is seeing a comeback; another old coin, Litecoin, is also generating waves as it approaches getting permission for its own ETF.
Often considered the bellwether of the market, Bitcoin has exhibited indications of recovery in line with positive Consumer Price Index (CPI) statistics. The CPI increased to 2.9%, in line with predictions; the core CPI is somewhat above projections at 3.2%. These numbers gave the market a nice lift in attitude, therefore preventing worries about a worse economic future.
Although its price has surged, Bitcoin encounters opposition close to the $100,000 milestone. Altcoin Buzz’s market analysts believe that stabilization over $98,000 could open the path for a positive breakout, especially considering major events like the inauguration next week could affect market dynamics.
XRP and Litecoin Gain Momentum Amid Legal and ETF Developments
XRP’s legal fight against the SEC keeps changing in the meantime. The Chief Legal Officer of Ripple recently wrote down the SEC’s appeal brief as a reevaluation of already failed claims. As XRP rose to $3.18, inching toward its 2018 high of $3.31, the legal drama seems to have had no detrimental effect on the price of the coin.
Reports showing XRP now boasts a market valuation bigger than both Disney and BlackRock have added to this momentum. U.S. Representative Guy Reschenthaler also revealed purchasing of XRP worth up to $155,000, indicating increasing institutional demand in the cryptocurrency.
Additionally, making major progress is Litecoin, whose price rose noticeably after word of a possible ETF approval. Bloomberg analyst Eric Balchunas claims the SEC’s interaction with the Litecoin ETF application points to it maybe soon following Bitcoin and Ethereum in getting regulatory approval.
With around 250,000 coins held since the start of the year, whale wallets have apparently gathered significant Litecoin. This build-up emphasizes the increasing expectation about Litecoin’s possible ETF-backed asset future.
Sui and Cardano Shine Amid Rising Blockchain Adoption
Concurrently, Sui, a more recent cryptocurrency, has drawn public attention, especially in Turkey. While active accounts have jumped by 20% in the past month, reports show Sui’s decentralized exchange (DEX) volume has hit $50 billion. This development emphasizes the worldwide acceptance of blockchain technology as well as the rising impact of newly developed altcoins.
Cardano (ADA) has also attracted new attention; whale wallets during the past 24 hours total 100 million ADA. Along with XRP, Solana, and Litecoin, Grayscale’s ongoing investment in Cardano highlights even more its possible competitiveness for ETF certification.
As ADA moves from $0.33 to $1, Cardano’s price increase has strengthened investor confidence since it rekindles debates on its long-term possibilities.
Notable news has also come from Donald Trump’s portfolio, which exposes Solana, Bitcoin, Ethereum, and Sui holdings. His choices on investments have spurred discussions on the growing relevance of cryptocurrencies among well-known people and companies.
Especially, his World Liberty Finance project just bought Ethereum valued at $46.4 million, implying intentional stockpiling at market lows.
Analysts underline the need of surpassing important resistance levels for continuous development while the market negotiates these changes. A breakout might indicate the beginning of a new upswing in several cryptocurrencies, therefore bringing in the highly awaited altcoin season.
