At present, the value of XRP sits at $0.395 and the trading volume within the last 24 hours has been $1.12 billion. The increase noted since yesterday is 1.18% at the moment.
Right next to Ripple stands Litecoin. This altcoin has been the greatest gainer of this year and is currently priced at $138.36. Many have stated the value will grow extensively and may reach 200 before the halving takes place. The whole trading volume within the last 24 hours amounts to $5.73 billion. The market cap for Litecoin has gone up by roughly 2 billion dollars, hence BCH has sunk to the 5th position.
Fifty-five days from today, LTC will go through the phase termed as ‘halving’ -miners will get lesser rewards for the blocks.
Litecoin block halving is in 56 days! https://t.co/EBWbsIUp47
Here are some stats on mining profitability. After halving, miners are still profitable with electricity under 10¢. Many are paying only 5¢ and therefore should keep mining LTC post-halving. (https://t.co/AcQPEjdNtb) pic.twitter.com/VtA9aAv7FS
— Charlie Lee [LTC⚡] (@SatoshiLite) June 10, 2019
In the past 6 months, coupled with a hashrate increase of over 150%, LTC has gained over 380% in USD from a low of $22.32.
Despite the nearly 4x in price, mining profitability is only up by 125%. pic.twitter.com/PbuVz6q5Sb
— Binance Research (@BinanceResearch) June 6, 2019
Charles Hayter, the CEO of CryptoCompare, voiced his opinion on this matter, “The halving is acting as a price catalyst.” Since the resistance value at $120 was beaten twice, the price is now expected to rise in a reasonable manner till it reacher $150. Minor pullbacks may be encountered along the journey.