- Both Litecoin and XRP registered double-digit growth last week.
- LTC’s network activity remained significantly higher than XRP’s.
When the crypto market turned bullish, most cryptos went including Litecoin [LTC] And Ripple’s XRP, registered greens on their price charts.
However, taking the latest analysis into account, LTC may be preparing for a rally that will ultimately outperform XRP. Let’s take a closer look at which crypto was better positioned in the short term.
Litecoin and XRP bulls are here
CoinMarketCaps facts revealed that the prices of both cryptos gained bullish momentum last week. To be precise, the price of XRP rose by over 26% last week, while LTC witnessed a price increase of 13%.
At the time of writing, XRP and LTC were trading at $0.53 and $70.6 respectively.
Thanks to the recent price gains, the weighted sentiment of both cryptos also entered the positive zone. Such a development means that bullish sentiment around them is increasing in the market.
Source: Santiment
While XRP’s gains were nearly double those of LTC, the latest analysis suggests LTC could take the lead in the long term.
Master, a popular crypto analyst, recently posted a tweet revealing how the LTC/XRP chart has consolidated within a pattern.
A breakout above the pattern could trigger a rally, which could result in exponential growth for LTC, potentially allowing it to surpass XRP in the coming months or years.
Source:
LTC vs XRP
Since there were chances that LTC would outperform XRP in the long term, AMBCrypto analyzed their metrics to find out what to expect from them in the short term.
AMBCrypto’s analysis of Santiment’s data showed that the MVRV ratio of both Litecoin and XRP improved last week, which can be inferred as a bullish signal. While XRP’s MVRV ratio stood at 11.8%, LTC’s benchmark reached 15%.
However, Bitcoin remained the clear winner in terms of network activity. This was evident from LTC’s vastly higher number of daily active addresses compared to XRP.
Source: Santiment
Our analysis of LTC’s daily chart revealed some bullish signals. For example, the MACD showed a bullish edge in the market.
The Relative Strength Index (RSI) recorded a rebound, indicating continued price appreciation. But the Chaikin Money Flow (CMF) suggested otherwise as it fell.
Source: TradingView
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Nevertheless, XRP’s position seemed more stable as all the above indicators were bullish. For example, both the Chaikin Money Flow (CMF) and the Relative Strength Index (RSI) recorded promising gains.
Like LTC, XRP’s MACD also showed a bullish upper hand on the market. If this were true, it would take longer for LTC to outperform XRP.
Source: TradingView