Altcoin update: LTC leads rally, SOL deeply oversold, XRP defends key support

Cryptocurrencies traded in red on Thursday as Bitcoin hovered around the $85K mark.

While the focus shifts to a ‘selective alt season,’ top altcoins Litecoin, Solana, and XRP remained on investor and trader watch lists.

Let’s check what investors can expect from their price movements in the near future.

Litecoin defies bearish trends

LTC displayed bullishness today, outperforming Bitcoin as it decoupled from the market.

While Bitcoin lost over 3%, Litecoin gained nearly 10% in the past day.

Exchange-traded fund news contributed to LTC’s gains in the past few sessions.

The SEC requested public feedback on Canary Capital’s Litecoin ETF.

The regulator’s acknowledgment triggered optimism as it signals a step toward a potential approval.

The odds of a Litecoin ETF authorization in 2025 have increased to 76%.

Source – Polymarket

Litecoin trades at $130, with substantial bull activity on its daily chart.

Stability above the support zone at $129 would propel Litecoin past $140 in the coming trading sessions.

Magnified buyer activity above this region could support surges to $200 – an over 50% increase from current prices.

Solana at capitulation zone: imminent price rebounds?

SOL has witnessed significant selling pressure since mid-January.

While the alt plunged to multi-month lows of $139 at press time, key indicators signal looming reversals.

The 14 Relative Strength Index on SOL/USD’s 24-hour chart has plunged beneath 30.

Reading 28 during this publication, the RSI explores lows not seen since mid-2023.

Source – TradingView

That puts SOL in a highly oversold region, suggesting bear exhaustion and impending price recoveries.

An RSI below 30 indicates potential reversals as traders explore dip-buying opportunities.

Such oversold situations have heralded significant bounce-backs in previous sessions.

Solana changes hands at $139, slightly above the support zone at $136.

Buyer resurgence at this level will likely strengthen the foothold and trigger recoveries toward the crucial resistance at $182.

The ongoing ETF-related optimism could bolster Solana’s recoveries in the upcoming sessions.

The DTCC (Depository Trust & Clearing Corporation) recently listed SOL futures exchange-traded funds.

That reflects a significant step towards a spot Solana ETF approval.

XRP bulls defend $2

The latest bearish wave saw Ripple’s token losing the third spot to USDT.

Meanwhile, whales stepped in to prevent the crucial support at $2.

Santiment’s data shows addresses holding between 10 million and 100 million coins purchased 390M XRP in the last 72 hours.

The massive accumulation sustained XRP beyond $2, currently trading at $2.21.

Analyst Crypto Michael supports the optimistic case.

Despite the prevailing downtrend, he believes XRP can still soar to new ATHs soon.

However, the remittance token should overcome the obstacle at $2.6 to open the doors to all-time highs in the next few months.

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