Many true believers will never admit this but in the cryptocurrency space, price prediction is important. It’s true that the price action of cryptocurrencies isn’t supposed to affect your interest in the industry. However, it’s difficult to completely ignore it. For a while now, many investors have been searching for accurate Litecoin price prediction 2019 and XRP price prediction 2019 among others. Well, an analyst on Forbes recently gave price predictions for both coins. In fact, the analyst proposed that there will be a flipping toward the end of the year that will put LTC ahead of XRP.
Litecoin Price Prediction 2019: Why Is The Price Of LTC Rising?
Currently, Litecoin price prediction 2019 puts the altcoin in the fourth place per market capitalization. The XRP price prediction 2019 puts it in the third place. Both coins fell significantly during the cryptocurrency winter losing more than 80% against the USD from their all-time highs. At the beginning of the year, however, LTC started recovering against the USD and has doubled its value moving from $23 to $57.
Litecoin (LTC) Price Today – LTC / USD
In the piece on Forbes, the analyst suggested that the price of LTC is finally responding to all the moves the Litecoin Foundation and Litecoin development team have been making to improve the coin. Apart from improving privacy for LTC, they have also sealed many high profile partnerships over the last few months. This was confirmed when the price of LTC spiked right after the foundation announced that it was considering integrating a fungibility and privacy protocol known as Mimblewimble.
Apart from the privacy improvements and partnerships that the network has been making, the analyst also suggested that another possible reason behind the price boost is the upcoming Litecoin block halving scheduled for August 2019. This isn’t a surprise because history has revealed that upcoming block halving always boosts the price of a coin.
XRP Price Prediction 2019: LTC To Overtake XRP Before The End Of 2019
What will fuel the LTC takeover? The analyst said that XRP hasn’t been doing so well for a while now due to the negative publicity surrounding Ripple. There are still many within the ecosystem that do not believe that the XRP token is decentralized and not influenced by Ripple. To hit the nail on the head, American financial giant, JPMorgan Chase, debuted a cryptocurrency known as the JPM Coin. This coin will do everything XRP can do and more. The analyst suggested that the launch of the JPM Coin will hinder the adoption of XRP.
XRP (XRP) Price Today – XRP / USD
Even if the JPM Coin may not pose a direct threat to XRP since it isn’t going to be traded publicly, it is going to be a threat to the xRapid technology. This, in turn, will reduce the demand for XRP. The fact is that the scales are currently tipped in favor of Litecoin (LTC). If the positive sentiments surrounding LTC continue, it may flip XRP and become the third largest cryptocurrency per market capitalization before the year is over.
While the analyst has strong points, it is important to note that LTC is currently holding a market capitalization of about $3.5 billion while XRP is holding over $13 billion. So, it’s going to be a long way up for LTC or a long fall for XRP.
What do you think? Will this Litecoin price prediction 2019 and XRP Price Prediction 2019 take place as suggested by the analyst?
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.