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Recent activity in the cryptocurrency market has intensified over the past 24 hours. Litecoin (LTC) and Ripple (XRP) 
$2 continue to maintain their upward trends, with eyes on the upcoming U.S. Consumer Price Index (CPI) data. Particularly for Litecoin, growing expectations regarding the approval of a spot ETF have generated significant excitement among altcoin enthusiasts.
Anticipation of ETF Approval Supports Litecoin’s Price
Litecoin (LTC) has become a favorite among investors in recent days. After a significant rise of 15% yesterday, LTC continued its ascent, reaching the $130 mark today. According to CoinGecko data, Litecoin’s market capitalization has surpassed $9.7 billion, placing it 18th in the list of cryptocurrencies.
Market experts suggest this surge may just be the beginning. Cryptocurrency analyst KALEO pointed out that LTC’s long-term price chart is exceptionally clear, indicating that upward movement may continue.
One of the main drivers of the rising Litecoin price is the anticipation of spot ETF approval. Canary Capital recently submitted an application for a spot Litecoin ETF, while Grayscale plans to convert its existing Litecoin Trust into an ETF. Bloomberg analyst James Seyffart evaluates the likelihood of such products being approved by the end of the year at 90%.
Another cryptocurrency analyst, Bluntz, noted that the price of Litecoin reflects the belief that “ETF approval is very close.” He remarked, “I haven’t seen such a clear bullish signal in a long time.”
Ripple (XRP) Price Approaches the $3 Threshold Again
Ripple‘s XRP is also gaining attention following a recent price increase. XRP surpassed $2.50, marking a 4.5% increase in value. Analysts predict this upward trend could continue, potentially bringing the price to $3.
XRP, like Litecoin, is also in the ETF race. On February 6, the Cboe BZX Exchange submitted an application for a spot XRP ETF. Major players such as WisdomTree, 21Shares, and Bitwise are among the applicants. The U.S. Securities and Exchange Commission (SEC) is required to make a decision on these applications within 240 days.
According to analysts, the approval of a spot XRP ETF would make Ripple more accessible to U.S. investors. This could bolster XRP’s long-term price performance. Data from Polymarket indicates an 81% chance that a spot XRP ETF will be approved within this year.
