TL;DR

Litecoin (LTC) jumped by double digits to $130, with analysts expecting more gains amid rising ETF approval chances. Ripple (XRP) crossed $2.50, with some market observers predicting a further surge to $3. Bitcoin (BTC) saw a modest 1% gain, but the upcoming US CPI data (Feb 12) is likely to drive volatility.

LTC Continues the Uptrend

The cryptocurrency market has witnessed a notable revival in the past 24 hours, but this time, the altcoins made the big moves. Litecoin (LTC), which was among the top performers yesterday (February 10), is once again in the spotlight.

Its price has risen by 15% on a daily scale, currently hovering around $130 (per CoinGeckos data). LTCs market capitalization has jumped above $9.7 billion, making the asset the 18th-biggest in the entire sector.

LTC Price, Source: CoinGecko According to numerous industry participants, the rally might still be at its starting point. The X user KALEO told his over 600,000 followers that LTCs high time frame (HTF) is insanely clean and simple, expecting a further push to the upside based on the increased chances of a spot Litecoin ETF approval.

Not long ago, Canary Capital submitted an application to file such a product, whereas Grayscale intends to convert its existing Litecoin Trust into an exchange-traded fund. James Seyffart an ETF research analyst at Bloomberg recently estimated that the likelihood of those products seeing the light of day before the end of 2025 is around 90%. 

The X user Bluntz chipped in, too, claiming that LTCs price is trading like the market knows an ETF is imminent.

Havent seen something that looks as clearly bullish as this in a while, they added.

XRP Forecasts

Ripples native token is another altcoin performing quite well today (February 11). It surpassed $2.50, representing a 4.5% increase in the past 24 hours. 

XRP Price, Source: CoinGecko The X user Cryptomist noted the resurgence, predicting a further rally to as high as $3. Those willing to explore additional price forecasts can take a look at our dedicated article here. 

Meanwhile, XRP has also joined the ETF race. On February 6, Cboe BZX Exchange lodged 19b-4 filings on behalf of Canary Capital, WisdomTree, 21Shares, and Bitwise. The US SEC now must approve or reject the applications within 240 days. According to Polymarket, there is an 81% chance for such an investment vehicle to go live in 2025. 

The potential launch of a spot XRP ETF would give American investors more options to gain exposure to the asset, which could have a positive effect on the price in the long term.

Hows BTC Doing?

Last but not least, we will touch upon Bitcoin (BTC), which is also in the green today but trails behind some of the leading altcoins. It currently trades at approximately $98,300, or a mere 1% increase on a 24-hour scale.

BTC Price, Source: CoinGecko Investors should keep in mind that the asset may experience enhanced volatility this week due to some important upcoming events. 

One example is the Consumer Price Index (CPI) data for January 2025. The US Bureau of Labor Statistics (BLS) is scheduled to release the figures on February 12, and as usual, this could lead to significant price movements in the crypto sector.

The data is also vital for the Federal Reserve, which considers it when making interest rate decisions. Cooling inflation may prompt the central bank to reduce the benchmark, which could benefit BTC and the entire digital asset industry.