The post LTC Whale Demand Spikes 16% After DOGE & XRP ETF News appeared on BitcoinEthereumNews.com.

Litecoin price plunged 5.7% in the last 24-hours as short-term traders capitalized on the hype surrounding altcoin ETFs to book profit. Technical indicators suggest bulls could trigger an early recovery phase. Litecoin (LTC) Tumbles 5% as Traders Book Profits on Altcoin ETF Hype Litecoin (LTC) was among last week’s top-performing assets, but a sell-the-news event has triggered a notable pullback. While inflation concerns capped gains in Bitcoin (BTC) and Ethereum (ETH), which hovered around $97,000 and $2,700 respectively, Litecoin rode bullish sentiment as the U.S. SEC acknowledged fresh ETF filings for DOGE and XRP by Grayscale and 21Shares. Litecoin Price Action (LTCUSDT) LTC price soared to a 30-day peak of $137 on February 13 before retreating sharply to $126.4 at press time, marking a 5.7% decline within 24 hours. This decline aligns with a classic profit-booking scenario, where traders cash in on gains following a major announcement. However, with no deterioration in network fundamentals or major negative press, bullish investors could take advantage of this correction. If LTC stabilizes above $120, new entrants may seize the dip, mitigating further downside risks and setting the stage for a rebound. Litecoin Whale Demand Surges After SEC Acknowledged DOGE and XRP Filings Beyond short-term volatility, Litecoin’s whale accumulation patterns suggest a potential price recovery. A key metric reinforcing this view is IntoTheBlock‘s Average Transaction Size, which tracks the average dollar value of transactions on the Litecoin network, providing insight into whale activity. Litecoin Average Transaction Size | LTCUSDT Data from IntoTheBlock shows that on February 8, LTC’s average transaction size fell to a monthly low of $45,190. However, following the SEC’s acknowledgment of DOGE and XRP ETF applications, this figure rebounded to $54,000 as of February 15. This increase suggests that deep-pocketed investors are accumulating LTC despite recent price declines. Whale accumulation typically…

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Filed under: News - @ February 17, 2025 3:24 am