Zinger Key Points
- Litecoin’s soared 8% in a single day following bullish ETF news.
- Traders predict significant price targets, with one likening the potential rally to XRP’s recent surge.
Litecoin LTC/USD is spiking on Friday, following news that a spot Litecoin ETF may be next in line for approval by the SEC.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Litecoin LTC/USD | $136.32 | $10.3 billion | +8% | +30.4% |
| XRP XRP/USD | $3.24 | $186.6 billion | -3.1% | +41.8% |
| Ethereum ETH/USD | $3,442 | $414.8 billion | +2.7% | +6.2% |
Trader Notes: Crypto trader Scient predicts Litecoin could experience a "more hated rally than Ethereum and XRP," suggesting strong price momentum ahead.
He says the range up to $85 remains a good accumulation zone and an XRP-style rally could begin soon.
The Moon Show observed that Litecoin has broken a key descending resistance, setting $139.73 as the next target.
Analyst Javon Marks anticipates further strength, with an initial price target of $354.36—representing a potential 207% upside and possibly more beyond that.
Statistics: The Litecoin Foundation revealed that the Litecoin Network completed a record 300 million transactions in its 13-year lifetime with 92 million in 2024.
The Grayscale Litecoin Trust announced the private placement of 242,900 new shares worth 20,000 LTC.
IntoTheBlock data shows Litecoin's large transaction volume increased 6.8% while transactions greater than $100,000 moved up from 1,155 to 1,215 in a single day.
Around 84% LTC holders are in profit, 8% are at breakeven.
Coinglass data shows Litecoin's open interest spiking 56.8% to $713.6 million, while derivatives trading volume widened by 579.1% to $3.5 billion.
Community News: ETFStore President Nate Geraci shared a snapshot of Nasdaq's 19b-4 filing for the Canary Litecoin ETF, sparking speculation about whether Litecoin's ETF approval could precede that of XRP or Solana that are part of the top six digital assets.
Bloomberg Senior ETF Analyst Eric Balchunas weighed in, noting that approval hinges on the SEC chair’s decision.
However, the S-1 has received comments from the SEC prompting higher chances of approval.
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