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- XRP, Litecoin (LTC), and Dogecoin (DOGE) are in the news with significant price action ahead of the weekend.
- Investors speculate on additional profits as sentiment around trading action and news in ETFs increases.
The crypto market is showing signs of life, with the total market cap rising nearly 2% in the last 24 hours. Bitcoin (BTC) recovered from $95,346 and is now trading at $96,860.46, up 1.12% for the day. Ethereum (ETH) followed suit, climbing 1.42% to reach $2,702.86.
Other cryptocurrencies also continue to generate action, with significant gains across the board. Among the standouts are XRP, Litecoin (LTC), and Dogecoin (DOGE), which have gained great attention.
1- Ripple (XRP)
Ripple’s XRP is enjoying a remarkable run, climbing 12.22% in the last 24 hours to reach $2.73. Its weekly gains stand at 15%, supported by a 17.9% rise in trading volume, now at $6.45 billion. Many traders believe XRP is entering a pivotal phase as it tests critical resistance levels.
CoinsKid recently highlighted a possible move toward $8 in the long-term, referencing the earlier tendencies of XRP to exhibit bullish five-wave patterns. However, he also cautioned that a short-term correction is going to occur when XRP reaches key resistance points.
The recent price jump is credited to the SEC’s acknowledgment of Grayscale’s filing to convert its XRP trust to become an ETF. The action is a reflection of a new approach to the regulation of Ripple and its native cryptocurrency, despite the actual ETF yet to be approved.
🚨SO, for everyone asking what this means — the SEC has *acknowledged* @Grayscale/@NYSE’s 19b-4 application to convert its $XRP Trust into an ETF.
No, it doesn’t mean automatic approval and it doesn’t even guarantee the SEC will approve it down the line.
So why is it notable?… https://t.co/GICXgobYsZ
— Eleanor Terrett (@EleanorTerrett) February 13, 2025
This development is considered a game-changer for XRP, providing more institutional adoption potential and potentially forming new all-time highs.
Analysts are also keeping a close watch on crucial price levels of XRP. Breaking over $2.85 would confirm a super bull trend and a breakout over $3.11 would unlock historical price levels.
2- Litecoin (LTC)
Litecoin is also in the news, up 7.88% over a day to $129.90. The coin is testing resistance at $130, with investors wanting to push it higher. Some of that is short liquidations, though many would bet that Litecoin will break $130 in the short-term.
There’s also promise for Litecoin’s ETF potential. Bloomberg analysts indicated there’s a 90% chance a spot Litecoin ETF would be approved by the SEC in time for year’s end. Such a move would open up more institutional adoption.
Enthusiasts believe that a breakout to $146 is imminent, with a short-term objective of $180 also in sight. The growing popularity of Litecoin is keeping investors active going into the weekend.
3- Dogecoin (DOGE)
Dogecoin (DOGE) also rode the wave, up 3.98% in the last 24 hours to hit a price of $0.2692. Dogecoin has been resilient and of interest to the market due to increasing speculation regarding inclusion in a crypto ETF.
Traders have pointed to technical indicators such as the week’s RSI, which is in sync with October’s 2024 rally in DOGE, suggesting high upside potential.
The #Dogecoin weekly RSI is at the same level it was at back in October of 2024 when price was at .11 cents – Price is now at .25 cents. Do you understand how relative strength works? Don’t sleep on the #DOGE.
— Kevin (@Kev_Capital_TA) February 13, 2025
The SEC’s acknowledgment of a 19b-4 filing to convert the Grayscale Dogecoin Trust to an ETF has added fuel. The ETF, if approved, would open up institutional investors to Dogecoin, possibly making it gain in price.
The proposal is in sync with other holdings, pointing towards a growing acceptance of cryptocurrency in financial markets. However, technical indicators suggest that Dogecoin is set to continue to increase, with investors waiting for it to hit $0.30 in the near time.
