SEC Crackdown: Why LTC and XRP are Staying Bullish


This week’s cryptocurrency news has been dominated by events around the regulatory crackdown on crypto exchanges in the US, with the SEC suing both Binance and Coinbase. Amid this, outflows from digital assets investment products have continued.

Regulatory headwinds and uncertainty about prevailing monetary policies remain key factors impacting crypto market performance. However, could the inflows into Litecoin (LTC) and XRP (XRP) investment products suggest that crypto bulls remain resilient? What does this outlook and the SEC vs. Ripple case signal for new cryptocurrencies like AltSignals?

AltSignals is a company that launched in 2017 and offers trading signals for a growing community of users across cryptocurrency, forex and stocks. The platform is now looking to launch a new artificial intelligence-powered layer called ActualizeAI. This AI layer will offer further accuracy for trading signals that users can apply in whatever market conditions.

The new AI-powered solution is set to launch later in the quarter and its native cryptocurrency token ASI is currently in presale. According to details on the AltSignals website, the first stage of the token sale is 91% sold out. ASI token holders will have premium access to ActualizeAI, in addition to rewards for participating in ecosystem development, governance and staking. Investors can get access to these features and more at the current discount prices by participating in the presale.

Digital assets manager CoinShares released its weekly report on cryptocurrency investment flows on Monday. It showed outflows totaling $88 million last week, and $417 million over the past eight weeks. Despite Bitcoin and Ethereum seeing nearly all of the weekly outflows, investment products that offer exposure to top altcoins recorded some inflows. Litecoin and XRP saw inflows of $0.7 million and $0.5 million respectively to suggest a bullish outlook from investors.

The price of Bitcoin has held above $25k and currently is above $26,200, while Ethereum is looking to retest $1,800. The total market cap is above $1.11 trillion and 1.7% up in the past 24 hours. Litecoin is trading near $79 on Tuesday morning, up 4% in the past 24 hours. The price of XRP is above $0.53, about +3%. Both coins have key events on the horizon that could have a significant impact on the direction of their respective markets.

Litecoin is moving ever closer to its halving set for this August and the immediate short term target is the $100 mark. Meanwhile, the XRP community is upbeat ahead of a court verdict in the case between SEC and Ripple Labs. On Tuesday 13th June, the Hinman files will be released, and Ripple CEO Brad Garlinghouse has expressed optimism ahead of the ruling.

AltSignals is already a successful project, whose trading signals are currently serving more than 50,000 subscribers. That outlook suggests the token’s price could see extended appreciation in the long term. The roadmap highlights development milestones such as a beta launch for ActualizeAI in coming months, and listing ASI on key exchanges, top CEXs and through OTC partnerships.

The price of ASI rose from $0.012 during the previous stage to $0.015. It will continue to rise during the sale to reach $0.02274, which is a 51% discount to the listing price. ASI could then target levels including $0.05 and $0.1 after it hits the secondary markets in 2023. In 2024, ASI price could be looking at new highs around the psychological $1.

Making a price prediction for ASI might not be easy given it is still in presale. The market conditions can also invalidate forecasts, particularly if the anticipated bull market cycle doesn’t happen or regulations and other factors catalyse a fresh dump that crashes crypto. If you wish to find more about AltSignals and the ASI token, read their whitepaper.

Related articles

Recent articles