Cryptocurrency analyst Tony Severino said that Litecoin will soon reach XRP, which suggests that the coin may soon enjoy a parabolic rise. The analyst referred to the bullish indicator on the LTC chart, which showed that the cryptocurrency could witness this parabolic rise.

Litecoin is about to pull XRP, here’s why

In a post on X, Tony Severino said that Litecoin will soon pull XRP, noting that the cryptocurrency is currently above its monthly high upper Bollinger bands. This suggests that LTC has undergone a necessary price correction and is now well positioned for a bullish retreat. The attached analyst chart showed that an upward wick was already forming on the monthly chart for the cryptocurrency.

Severino did not provide a price target for how high Litecoin could go when it moves higher. However, the chart showed that the $150 and $300 price levels are in sight, which could eventually pave the way for LTC to return to its current level highest level ever (ATH) amounting to $412. It is worth mentioning that a cryptocurrency analyst also recently conducted a similar analysis for XRP.

Previously, Severino mentioned that XRP is trading just above the monthly upper Bollinger Bands while the width of the BB is increasing from the narrowest level in XRP’s history. He added that it would be shock and awe. Since then XRP was content parabolic growth of over 200% and is currently above the $2 mark, which is the level that the analyst’s chart showed the cryptocurrency could exceed.

Therefore, Litecoin analysis is undoubtedly noteworthy as the cryptocurrency analyst predicts that LTC will pull XRP. Litecoin hasn’t had a good run yet, though it already looks like it’s catching up considering it’s up over 24% in the last seven days.

Next Dino Coin to Launch?

Like Severino, cryptocurrency analyst Crypto Snorlax also suggested that Litecoin will be the next “Dino coinwitness a parabolic rally. In Post Xthe analyst highlighted a chart showing the price action of XRP and LTC. Based on this analysis, Crypto Snorlax revealed two engaging findings.

First, he noticed that there is a mighty correlation between ancient altcoins. WITH XRP recording after a fivefold price enhance from its low range, the analyst expects Litecoin to follow suit soon. Secondly, Crypto Snorlax revealed that Litecoin just broke above $115, which is an 18-month resistance.

Therefore, Litecoin is well positioned for significant growth he broke down this resistance support. The attached analyst chart showed that LTC could enjoy an up to 3x price enhance and reach as high as $450, which would mean a recent ATH for the cryptocurrency.

According to the data, as of this writing, Litecoin is trading at around $121, up over 20% in the last 24 hours. data from CoinMarketCap.

Featured image created with Dall.E, chart from Tradingview.com