Litecoin and Ripple price prediction: LTC skyrockets, XRP trying to follow it

LTC/USD accumulates a 300% rise since last Friday
Skyrocketing Litecoin still with steam to continue rising

Tomas Salles FXStreet

Litecoin has been showing an impressive bullish display during the last trading days. Coming off impressive upwards trading sessions, LTC had yesterday its best day to date, stepping up its bullish pace and effectively entering the 100%-rise/day club. Predicting how Litecoin price will evolve looks very difficult right now, but we can point to $500 as a significant target by considering how much cryptocurrencies like symbolic price landmarks.

LTC/USD set an intraday high at $301.69 and paved the way for other Cryptocurrencies to follow King Bitcoin surge to a stratospheric trajectory. As we mentioned, Ethereum and Ripple are trailing BTC on their way up, but gains are generalized all across the cryptocurrency board. Litecoin is the most spectacular example of that.

LTC is now trading inside a bullish flag, consolidating gains from last days.

Litecoin Joins Crypto -Mania Reaching New Highs [Video]

LTC/USD 1H Chart

The Litecoin 1H indicators show the following developments:

MACD is moving back to neutral levels, a natural correction to the average after big price surges from recent days

Directional Movement Index shows a good balance between buyers and sellers. In the daily chart, though, sellers are in tiny levels.

Ripple wants to be part of the show

European session has awakened with a 32% overnight rise in the XRP/USD. Early Europe usually is not the most prolific trading time of the day for big crypto swings, so the surge could really pick up its pace later in the day. Ripple is an asset to track in the coming hours and days.

XRP/USD is now trading around $0.49, but already having set a $0.5274 intraday high this could be the up-move of the day in the crypto markets, even if it’s always tough to say that with any cryptocurrency having the potential to get hot in a matter of minutes. Ripple’s target for the current bullish ride might be around $1$, which even if it looks paltry compared to other Cryptocurrencies valuations, would be an outstanding rise percentage wise.

XRP/USD 1H Chart

As with Litecoin, Ripple has been developing since last Friday a bullish ride that has already accumulated a rise close to 300%.

Expect similar moves in any cryptocurrency trailing last week’s impressive Bitcoin rise.

Author

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland. He expanded his technical training following the guidance of great experts on the financial markets.

AUD/USD keeps range near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies near mid-0.7100s in the Asian session on Friday, stalling the previous day's sharp decline to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of the US consumer inflation figures before placing fresh bets.

USD/JPY holds lower ground toward 154.00; looks to US CPI

USD/JPY holds lower ground toward 154.00 in the Asian session on Friday after hot Japanese PPI data bolster a more hawkish BoJ repricing and provide fresh impetus to the Japanese Yen. However, the downside appears capped as the US Dollar preserves overnight gains ahead of the latest US consumer inflation data.

Gold: Gains remain capped by $4,400

Gold regains composure and trades with decent gains on Friday, managing to refocus attention on the $4,440 mark per ounce troy. Therefore, the precious metal reverses Thursday’s decline as the US Dollar alternates gains with losses at the end of the week.

Ripple Price Forecast: XRP extends decline as returning ETF inflows fail to lift outlook

Ripple (XRP) falls below $1.33 on Friday, marking the third consecutive day of declines. The token continues to track the broader cryptocurrency market downturn, with investors closely monitoring heightened macroeconomic uncertainty ahead of the United States (US) Consumer Price Index (CPI) release and next week’s Federal Reserve (Fed) monetary policy decision.

Weekly focus – The hawks set the tone

Risky assets came under pressure this week as energy prices kept creeping higher and the ECB surprised the markets with a hawkish tone. The price of Brent crude touched USD 110 per barrel on Thursday night, highest since mid-May, as news emerged that the Yemeni Houthis had reached control of key port cities and islands near the Bab el-Mandeb strait.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.