Both Litecoin (LTC) and XRP and taking the lead among the top 10 with large price increases in the last 24 hours. The entire crypto market is now registering moderated losses, but XRP and Litecoin show their resilience due to different reasons.
Litecoin and XRP Become Leaders
During the last few days, we have seen how Bitcoin (BTC), Ethereum (ETH) and Binance Coin (BNB) have been leading the crypto market. Bitcoin recovered the $60,000 mark, Ethereum is in price discovery mode and Binance Coin continues to get closer to $500 per BNB.
XRP and Litecoin have been silent gainers over the last few days as well. XRP moved from below $1 to over $1.40 at the time of writing this article. According to data provided by CoinMarketCap, XRP registered gains of over 32% in the last 24 hours and 129% in the last seven days alone. At the moment, XRP has a market valuation of $62 billion and it could surpass BNB in the near future if it continues to move higher.
Instead, Litecoin has grown 10.40% in the last 24 hours and reached a price per coin of $257. In the last seven days, this virtual currency expanded by 28%. In this way, it became the third-largest gainer among the top 10 in the last week.
Earlier this year the U.S. Securities and Exchange Commission (SEC) started a legal process against Ripple. This generated a strong sell-off for the virtual currency. Now, things have changed.
The court has denied SEC’s request for personal financial records that are not connected to XRP. This is a strong win for Ripple in the SEC vs Ripple case. This is something that can be seen in the sentiment of the community and how the virtual currency has moved higher in recent weeks.
Litecoin, instead, is a legacy digital asset that has been in the market for several years now. Charlie Lee and the team behind LTC continue working on new projects and implementations. In the near future, the goal is to have Decentralized Finance (DeFi) projects powered by LTC through the Flare Network.
At the same time, in the near future, Litecoin could release a new feature that would make transactions private. In this way, users can be sure that their information is protected, in a similar way to how Monero (XMR) works. Although these things are yet to be released, the market seems to be pricing them.