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Halving FOMO Pumping Litecoin Price to Its Record: Can It Take Over XRP?

Halving FOMO Pumping Litecoin Price to Its Record: Can It Take Over XRP?
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Halving FOMO Pumping Litecoin Price to Its Record: Can It Take Over XRP?

We are all aware that the next Bitcoin halving is less than a year away, but it seems Litecoin is preparing for its part. In less than two months, Litecoin’s block rewards are expected to fall.

Both of these events are likely to restrict the supply of both cryptocurrencies, leading some speculators to count on the reduced supply for another bull run.

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Halving fever seems to have already struck the market. Litecoin prices have risen sharply this year, leaving many top cryptocurrencies in the dust.

The altcoin extended recent gains today, hitting a fresh 2019 high of $138.57 and it keeps growing.

This move has pushed LTC market cap up to $8.62 billion and volume is hovering around record levels at $5.7 billion. The traders and analysts on crypto twitter have been scouring the charts looking for the next direction for Litecoin. Most agree that it will be up but key psychological levels of resistance have formed around the $150 area.

Trader Josh Rager predicts a lot of profit taking at this price level, which is now only $10 away:

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Some of them even prescribe LTC as an “easy buy”:

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Joe DiPasquale, CEO of BitBull Capital, explained that the $120 resistance level could have prevented Litecoin from rising higher, but now that it has surpassed that price point twice, the bullish impulse is likely to continue.

“With LTC trading around $125, we can expect a steady rise towards $150 with some normal pullbacks along the way.”

Will LTC Flip XRP?


There is also a question as the bullish trend continues: Can LTC flip XRP? As Litecoin positions itself at number four just below Bitcoin, Ethereum, and XRP.

Financial Survivalism, a cryptocurrency analyst, revealed that LTC could peak by doubling its price just a few days before the halvening event, which could allow it to flip over XRP:

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The halving, which is clearly driving it, is still 54 days away so the big question is how high will LTC go and when will it fall back. Unless bitcoin makes a massive move north within the next two months, Litecoin is likely to retrace at some stage.

However, for the “flippening” to happen XRP will have to remain under the current price levels or suffer a significant drop in market valuation while LTC keeps going up.

Halving FOMO Pumping Litecoin Price to Its Record: Can It Take Over XRP?



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Tags: Altcoins

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