The crypto markets have overcome the selling pressure generated by Mt. Gox’s BTC transfers and the German government liquidating the seized assets. As a result, the Bitcoin price underwent a nice breakout and surged above the pivotal resistance zone, confirming a rise above the bearish captivity. With this, the traders appear to have jumped into a ‘FOMO’ well, as altcoins like Litecoin (LTC) & Ripple (XRP) have gained immense attention.
The data from Santiment suggests that the LTC & XRP tokens are receiving higher levels of FOMO, which may result in a euphoric rise in value. The tokens have been overshadowed by the newly launched AI tokens, RWA tokens, memecoins, etc., and hence the trader’s attention over the primitive tokens has faded over time. With the rising weighted sentiment, the prices of the tokens are expected to inflate in the coming days.
The XRP price attempts to reclaim levels above the multi-year ascending trend line, which could spark a new upswing to $1. The RSI is breaking above the descending resistance after failing to do so several times previously. Furthermore, the MACD is positioned for a bullish crossover. As a result, if the price closes the weekly trade above the trend line, it may find support in the $0.65 to 0.7 range, where bears dominate.
As a result, the next few days could be crucial for the XRP price rally, as reclaiming $1 will be dependent on the weekly close. On the other hand, Litecoin price has triggered a rise above the important trend reversal zone, reviving the possibility of hitting a 3-digit figure soon.
After rebounding from the local bottoms, the LTC price cleared a key resistance between $65.34 and $67.09. This move also caused the RSI to rise above the multi-month descending trend line, indicating the beginning of a fresh ascending trend. Moreover, the +Di & -Di are close to validating a bullish crossover, which may elevate the levels to the interim resistance at $88. If the bulls sustain above-average gains, a rise to $94 could be imminent.
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