The price in litecoins has increased enormously in the context of the upcoming Halvening event. LTC's market capitalization recently increased by $ 2 billion, outperforming Bitcoin Cash in terms of market capitalization. Now that the upward trend is continuing, some fans are wondering: Will Litecoin (LTC) Exceed Ripple (XRP)?
To answer this question, we highlight the halving event for Litecoin and what it could mean for the LTC course. We will also examine the market sentiment and some predictions about the ripple and the price in Litecoins, then we will assess how realistic a scam between a ripple and a litecoin is realistic.
The half sharing event for Litecoin (LTC)
With the block of 1,680,000 days, Litecoin will spend up to 53 days in a process called Halvening designed. Within the division in half, the rewards for each mined block are reduced by exactly half. In concrete terms, this means that the miners, who currently receive 25 new LTCs for each block released, will only receive 12.5 LTC per block after the cut in half.
Charlie Lee, founder of Litecoin, recently published on Twitter statistics that, despite the halving, mining on the Litecoin Blockchain remains profitable. This is an important factor as miners will have to continue to increase their computing power on the network.
The Litecoin block halves in 56 days! https://t.co/EBWbsIUp47
Here are some statistics on mining profitability. After halving, miners are always profitable with electricity less than 10 ¢. Many are paying only 5 ¢ and should continue to exploit mining SLDs after halving. (Https://t.co/AcQPEjdNtb) pic.twitter.com/VtA9aAv7FS
– Charlie Lee [LTC⚡] (@SatoshiLite) June 10, 2019
The course in Litecoin increases considerably with the approach of the Halvening event
Since the trough of December 14, 2018, when the price of Litecoin was trading around $ 22, it rose 480%, peaking at just over $ 144 yesterday.
Over the last 6 months, with an increase of more than 150% in the total weight of the market, LTC grew by more than 380% in USD out of a minimum of $ 22.32.
Despite the near-4x price, the profitability of mining has only increased by 125%. pic.twitter.com/PbuVz6q5Sb
– Binance Research (@BinanceResearch) June 6, 2019
According to Charles Hayter, co-founder and CEO of CryptoCompare, the recent increase is due to the impending reduction of the block rewards. He sees in Halvening's approach the catalyst of the Litecoin course.
Similar behavior for the Litecoin course has been observed in the past. The first reduction in the overall premium occurred on August 26, 2015, reducing the miners' premium from 50 to 25 LTC per block.
After more than a month of consolidation from April 13 to May 21, 2015, when the price in Litecoin ranged from $ 1.35 to $ 1.5, it finally broke out on May 22, 2015. In 48 days, the price Litecoin climbed from $ 1.46 to $ 8.97, an increase of 513%.
After the price of Litecoin reached its peak on July 9, 2015, a month and a half before halving, a correction ensued and the price fell by 76.24%. As a result, the Litecoin share only reached $ 2.4 the day before the event and then entered a consolidation phase.
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Market sentiment for the Litecoin course
Joe DiPasquale, CEO of BitBull Capital, has already pointed out that the level of resistance for the litecoin price is $ 120 and is a serious obstacle. Now, however, with the price in Litecoin successfully crossing this hurdle, there is a good chance that the uptrend will continue. DiPasquale commented in this regard:
Since the price of long-term care is $ 125, we can expect a steady increase to $ 150, with some normal setbacks coming.
In addition, Luke Martin, technical analyst, said the price in Litecoin could go "to a level higher than that of the recent recovery". He also sees Halvening's approach as a catalyst.
I slept on $ LTC Halvening being only 60 days from here.
The price is up 5% today in consolidation output. I think it could go higher than the last highest .0182.
– Luke Martin (@ VentureCoinist) June 6, 2019
Mati Greenspan, senior market analyst at eToro and a popular analyst on Twitter under the pseudonym The crypto dog believes that the price in Litecoin will continue its upward trend unchanged by the rest of the market. He sees Halvening as a powerful and easy-to-use catalyst.
It is a powerful catalyst easy to exchange, with a little patience.
– The crypto dog (@TheCryptoDog) June 9, 2019
Litecoin's performance has been better than most other cryptography assets over the last few weeks, despite recurring short-term corrections, Litecoin continued to make progress in the market capitalization rankings. At the moment, LTC is in fourth place behind Bitcoin, Ethereum and Ripple (XRP).
Will the price increase to $ 589 by XRP? Sounds strange? Absolutely. Is it impossible? It is well known that nothing is impossible. Representatives of this theory see three different possibilities, each of which can lead to an XRP price of $ 589 per coin. Read more
Can the Litecoin Course Exceed the Ripple Course (XRP)?
Financial Survivalism, a cryptocurrency analyst, said the price in Litecoin could double its peak just a few days before the cut in half. If he succeeds, Litecoin could claim third place, currently occupied by Ripple (XRP). But is a 100% increase from the current level realistic?
According to Financial Survivalism, this opportunity exists as long as the Litecoin course behaves as in 2015.
$ LTCBTC culminated days after $ LTC halved in 2015. He proceeds to the sale $ BTC reduce by half. I think we will see a similar price action in 19-20. If yes then #LTCBTC would return to the top of the chain in the next two months before re-testing ~ 0.011. pic.twitter.com/vXz5KcuE2k
– Financial Survivalism (@Sawcruhteez) June 8, 2019
If the upward trend continues as expected, the price could double. This new price would result in a market capitalization of about $ 17 billion. However, for such a "switch" to occur, the price of the ripple (XRP) would have to remain below the current price level or suffer a significant decline in its market value.
According to a cryptocurrency analyst galaxy For the Ripple (XRP) course, there is a risk of falling back to 40,250 Satoshis at the May 13th low and forming a double bottom pattern before gaining value.
Another technical analyst, Sir Gordon Gecko, raised a similar point. He compared the current period to that of December 2017.
If the price of ripple (XRP) follows the same pattern, it would mean that the XRP price could fall back to $ 0.33 before a massive surge would occur.
– Sir Gordon Gekko (@gordongekko369) June 9, 2019
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Is a turning ring realistic?
If the XRP price actually falls to 0.33 USD, the market capitalization will logically decrease as well. In this case, $ 14 billion. According to this theory, Litecoin should trade more than 225 USD to overtake Ripple in terms of market capitalization.
Although theoretically, it may well be that a reversal occurs between LTC and XRP, the two scenarios presented suggest that the price of XRP could soon be huge gains despite short-term setbacks.
Considering further that the massive increase in Litecoin's rate will probably be followed by a severe correction, such a switch, if any, would be short-lived.
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