LTC Bulls Eye $120-$125 Range as Litecoin Gains Momentum
Litecoin (LTC) has demonstrated significant bullish momentum, surging 20% in the past week to trade at $116, accompanied by a 1.30% increase in daily volume to $1.27 billion. The cryptocurrency peaked at $119.21 during this rally, with market participants optimistic about further upside. Analyst Naveed points to a key resistance breakout and a "fair value gap" fill as catalysts for the upward move. The $120-$125 range is now the next technical target, with long-term projections suggesting continued growth. As of July 24, 2025, LTC's strong performance highlights its potential in the evolving digital asset landscape.
Litecoin Gains Momentum as Bulls Target $120-$125 Range
Litecoin (LTC) has surged 20% in the past week, trading at $116 with a notable 1.30% increase in daily volume to $1.27 billion. The rally follows a 24% weekly gain, peaking at $119.21, as market participants anticipate further upside.
Analyst Naveed highlights a key resistance breakout, confirming a "fair value gap" fill before the upward move. The $120-$125 zone now serves as the next technical target. Long-term projections suggest a potential 2025 rally toward $262, though volatility may include a pullback below $94 before challenging its all-time high of $413.
SEC Grants Then Freezes Approval for Multi-Asset Crypto ETF Including XRP
The U.S. Securities and Exchange Commission initially approved NYSE Arca's listing of the Bitwise 10 Crypto Index ETF on July 22, marking a potential milestone for altcoin exposure in regulated markets. The fund's portfolio notably included XRP alongside Bitcoin and Ethereum, with smaller allocations to Solana, Cardano, and other altcoins.
Regulatory whiplash ensued as the SEC almost immediately froze the approval. The decision WOULD have converted Bitwise's existing OTC-traded BITW product into a national exchange-listed ETF, subject to strict allocation rules requiring 85% of holdings to be in SEC-approved assets.
XRP's 4.97% weighting in the proposed fund reflects growing institutional recognition despite ongoing regulatory uncertainty. The abrupt reversal highlights the contentious path for crypto ETFs beyond Bitcoin and ethereum products.
Altcoin Market Sees Sharpest Correction in Weeks as Traders Take Profits
The cryptocurrency market faced a significant pullback this week, with altcoins bearing the brunt of the sell-off. Total market capitalization dropped 5% to $3.78 trillion, while the altcoin-specific market cap plunged nearly 10% from $1.57 trillion to $1.4 trillion. Bitcoin showed relative resilience, exacerbating losses for leveraged traders.
Derivatives markets witnessed nearly $1 billion in liquidations within 24 hours, with longs accounting for 84% of the damage. The bloodbath swept across nearly all altcoins, with losses ranging from 6% to over 20% according to CryptoBubbles data. This correction appears to mark the first substantial profit-taking event after four consecutive weeks of gains.
10x Research suggests Asian trading hours served as the primary catalyst for the recent rally now undergoing correction. The liquidation cascade particularly punished overleveraged traders who bet on continued upside during what proved to be a classic bull market pullback.
