18.05.202118:43 Forex Analysis & Reviews: ETH took a break, XRP and LTC pull the market to growth: analysis and forecasts

After an extremely poor start to the week, the main altcoins are beginning to recover their positions. Some coins almost completely recouped Sunday's drop in quotes, and some are only approaching dangerous and important milestones. The crypto market is creaking, but it is coming out of the local crisis and even shows an increase of 1% over the past day.

The main factor in the success of the market was the personal growth of the XRP token. Over the past day, the asset rose by 6% and reached $1.65, which allowed the coin to break into the top 4 by capitalization. The cryptocurrency is growing in leaps and bounds and is accompanied by a surge in daily trading volumes, which in normal times are quite low in the region of $11 billion. In a narrower perspective, the coin also shows a good growth dynamics of +3.5%. The growth of the XRP/USD pair is mainly related to the defining event in the Ripple v. SEC case. The company managed to get hold of the documents of the regulator, and if the creator of XRP finds among them proof that the cryptocurrency is not a security, then the case will be won. This turn of events inspired positive investors, who, against the background of the problems of other assets, trusted XRP. Thanks to the growth of the token, the market managed to reach a plus at the end of the day, and soon, XRP will be the engine of the market.

Things are a little more complicated for ETH, which was overtaken by a market correction triggered by the collapse of bitcoin. As a result, the asset is held in the area of $3,490 and has fallen in price by 1% over the past day. At the same time, the daily trading volumes, which amount to only $65 billion, also sank. Despite this, there is no doubt that the asset will soon resume growth. The first prerequisites for this were the news that commissions on the ether network fell by 71% due to the market correction. This will cause a new surge in growth and activity in the ETH network, as the closest competitor - bitcoin - has a lot of other problems and distrust. In addition, it became known that the ether project attracted $27 million of investment over the past week and most of the bitcoin audience is gradually moving to the base of the main altcoin. Based on this, we can assume that the asset will resume its growth soon.

Likewise, things are also a little complicated for LTC, which is rising in price following the impulse of the Ripple token. The asset showed a steady growth of 6.5%, which indicates the coin's readiness to take advantage of the positive on the market and start growing. At the same time, the volume of daily trading in the litecoin network remains at a low level in the region of $9 billion. The cryptocurrency is quoted at $300 and continues to recover its positions after the bitcoin crash on Sunday. In the near future, the coin will continue to rise in price, and the first visible problem on the way to acceptable positions at $350 is the difficult $330 mark. In an altcoin situation, everything will depend on the news background and the general mood of the market and other cryptocurrencies.

It is difficult for the cryptocurrency market to start a protracted growth without significant news reasons, which have so far been extremely negative. Investors are very cool about the market due to the possible introduction of stricter legal regulation of coins. Investigations into the Binance crypto exchange are ongoing, and the central banks of South Korea and India are urging banks to abandon cryptocurrency transactions. All this creates a kind of tension around individual coins and serves as a reason to look for more reliable and understandable ways of investing. Ripple's victory over the SEC could be the decisive factor that could trigger a boom in the market and herald the beginning of a new growth cycle for the cryptocurrency market.