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Litecoin Vs. XRP: Could LTC Surpass XRP Before Halving?

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Litecoin is awaiting its block rewards reduction. Meanwhile, the LTC-related price predictions are getting bullish.

Not too long ago, the online publication Smartereum mentioned crypto analyst Financial Survivalism who said that LTC’s price still has enough room to grow.

The LTC rally could become $250 by the time Litecoin halving occurs.

LTC’s market cap has recently increased by $2 billion, leaving Bitcoin Cash behind, according to CryptoSlate.

The bullish trend is reportedly continuing and the online publication questions whether LTC cand flip XRP.

The Halving Event

A little over fifty days from now, at exactly block 1,680,000 LTC, Litecoin will go through a fixed process that’s called halving, and we’ve already addressed it.

This will reduce the rewards that miners get for mining a block which in turn will reduce the rate of issuance.

Miners who are currently awarded 25 new LTC for every block they are solving will be only rewarded with 12.5 LTC for each block after the event takes place.

More experts have been saying that as the date gets closer, LTC’s market valuation is increasing and this leads investors to believe that there’s definitely a connection between the upcoming event and the market valuation of LTC.

The halving acts as a price catalyst

Charles Hayter, co-founder, and CEO of CryptoCompare, believes that this surge can be attributed to the upcoming block rewards reduction.

“The halving is acting as a price catalyst.”

The online publication talks about the flippening.

For this to happen “XRP will have to remain under the current price levels or suffer a significant drop in market valuation while LTC keeps going up,” they write.

CryptoSlate also brings up crypto analyst Galaxy which has already become famous and says that “there is a chance for XRP to retrace to the May 13 low of 40,250 satoshis to form a double bottom pattern before it increases in value.”

XRP should reportedly fall to $0.33, and LTC should surge to $225 in order to overtake XRP.

At the moment, XRP is priced just a bit over $0.40 and LTC is trading at $134.86 on CoinMarketCap.

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Litecoin Forecast and Analysis September 16 — 20, 2019

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Litecoin LTC/USD ends the trading week at 68.42 and continues to move as part of the decline and the beginning of the development of the «Head and Shoulders» reversal pattern. Moving averages indicate the presence of a lateral trend, which will soon change in favor of a downtrend. At the moment, we should expect an attempt to develop a correction and test the resistance area near the level of 75.00. Where again we should expect a rebound and an attempt to continue the decline in Litecoin with a potential target below the level of 45.05.

Litecoin Forecast and Analysis September 16 — 20, 2019

An additional signal in favor of a drop in LTC/USD quotes in the current trading week September 16 — 20, 2019 will be a test of a downward trend line on the relative strength index (RSI). The second signal will be a rebound from the broken line of the «Neckline» of the «Head and Shoulders» reversal pattern. Cancellation of the Litecoin fall option will be a strong growth and a breakdown of the area of ​​110.00. This will indicate a breakdown of the resistance area and continued growth of LTC/USD. A confirmation of the fall of the cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 55.00.

Litecoin Forecast and Analysis September 16 — 20, 2019

Litecoin Forecast and Analysis September 16 — 20, 2019 suggests an attempt to test the resistance area near the level of 75.00. Then, the continuation of the fall to the area below the level of 45.05. An additional signal in favor of the fall of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the reduction option will be a strong growth and the breakdown of the area of ​​110.00. This will indicate a continued rise in the cryptocurrency with a target above the level of 145.00.

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Litecoin (LTC/USD) forecast and analysis on September 16, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 70.48. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

As part of the Litecoin course forecast, a test level of 69.20 is expected. Where should we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 74.80. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator strip at 67.80.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower boundary of the Bollinger Bands indicator strip. As well as the moving average with a period of 55 and the closing of quotations of the pair below the area of ​​65.40. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on September 16, 2019 implies a test level of 69.20. Further growth is expected to continue to the area above the level of 74.80. The conservative area for buying Litecoin is located area of 67.80. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 65.40. In this case, we should expect the continuation of the fall.

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Litecoin Price Analysis and Prediction for September 16th 2019 – Can LTC Hit $100?

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It seems like the cryptocurrency market is slowly waking up as the new week begins. Bitcoin continues to trade sideways while some cryptos are making small steps upwards, registering single digit percent gains. Litecoin made a nice recovery after this weekend’s slump and is currently trading at $71.23 on Bitfinex. Let’s take a look at any relevant Litecoin news that may affect the market and see if the charts tell us what’s in store for LTC.

cmc top10
Source: Coinmarketcap

Litecoin News

While not necessarily news, there is a big event coming up for Litecoin in Last Vegas. Dubbed Litecoin Summit, the event is planned to be held in The Cosmopolitan in Last Vegas on October 28th-29th. I will definitely be there, so if you are planning to attend make sure to connect with me on telegram (@Arginmark) so we can network!

On another note, such a big event is sure to bring bullish momentum to the cryptocurrency as it’s a common trend for a conference to boost interest in the market.

When it comes to current events, there are no big developments for Litecoin as of right now.

Litecoin Price Analysis

litecoin price chart 9/16/19
Source: @NullTX from Tradingview

Relative Strength Index: The RSI is currently at a healthy 51 points and rising. We caught LTC/USD right at the rebound after it retraced down to $71.1.

Bollinger Bands: Litecoin is currently within range of the two bands after briefly dropping below the lower band an hour ago.

Volume: Unfortunately, the volume is extremely low right now which is surprising given that it’s the start of a new week where markets are usually more active. However, volume can go from 0-100 extremely quickly if the market start swaying to either side.

Litecoin Price Prediction

The RSI and Bollinger Bands are both indicating that LTC/USD will trade sideways. Litecoin’s volume reinforces the sideways market because of how low it is.

My short term prediction is that Litecoin will stay above the $71 level at least for the first half of the week. As the news about Litecoin summit spread, I believe it will have a bullish impact on the market and we just may see a $100 Litecoin by the end of October.

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