A notable shift is occurring in the cryptocurrency landscape as Litecoin and Ripple see significant price surges amid anticipation around potential ETF approvals.
What’s Driving Litecoin’s Surge?
Litecoin's ascent is propelled by expectations for a spot ETF approval. Canary Capital has submitted an application for a spot Litecoin ETF, while Grayscale aims to convert its existing Litecoin Trust. Bloomberg’s James Seyffart assesses the approval chances at a remarkable 90% by year-end.
Is Ripple Ready for a Comeback?
Ripple's XRP is making a comeback, having recently surpassed the $2.50 mark with a 4.5% increase. Analysts speculate XRP might hit $3, especially with its own ETF application filed by the Cboe BZX Exchange.
Prospects for Litecoin and Ripple
Litecoin’s market capitalization has exceeded $9.7 billion, making it a significant player. The anticipation for ETF approvals is high, with a 90% likelihood for Litecoin and 81% for Ripple. Both cryptocurrencies are drawing increased interest from traders and investors.
As excitement builds around potential ETF approvals, Litecoin and Ripple are poised for significant market movements, suggesting a promising period ahead.
