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Litecoin is weak after bears’ recent push, but could flip bullish ahead of its halving event.
- Meanwhile XRP price holds above key level as the SEC vs. Ripple case moves even closer to a court decision.
- Both LTC and XRP have seen minor investment product inflows this past week, which suggests broader crypto resilience likely to boost AltSignals (ASI).
Cryptocurrency news this week 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 has been continued outflows from digital assets investment products.
Regulatory headwinds and uncertainty around prevailing monetary policies remain key factors that are impacting crypto market performance.
However, could the inflows into Litecoin (LTC) and XRP (XRP) investment products suggest crypto bulls remain resilient? What does this outlook , and the SEC vs. Ripple case, signal for new cryptocurrencies like AltSignals?
What is 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 looking to launch a new artificial intelligence-powered layer called ActualizeAI.
The new AI-powered solution will offer further accuracy for trading signals that users can apply in whatever market conditions.
This AI layer 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 among other benefits including earning 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 here.
Litecoin and XRP see investment inflows
Digital assets manager CoinShares released its weekly report on cryptocurrency investment flows on Monday. It showed outflows totaled $88 million last week, and $417 million over the past eight weeks.
But despite Bitcoin and Ethereum seeing nearly all of the weekly outflows ($52 million and $36 million respectively), investment products that offer exposure to top altcoins recorded some inflows.
Prevailing market conditions aside, Litecoin and XRP saw inflows of $0.7 million and $0.5 million respectively to suggest a bullish outlook from investors. Solana also registered $0.3 million in inflows.
XRP price prediction ahead of Hinman files release
In terms of price outlook, Bitcoin has held above $25k and currently is above $26,200, while Ethereum is looking to retest $1,800 as bulls try to stabilise following last week’s sell-off. It is a broader market resilience that has the total market cap above $1.11 trillion and 1.7% up in the past 24 hours.
Looking at Litecoin price, we see it 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. A post-halving rally in a new bull market could see LTC bulls aim for all-time highs.
Meanwhile, the XRP community is upbeat ahead of a court verdict in the case between SEC and Ripple Labs. Ripple is the blockchain company that created the XRP cryptocurrency, which the SEC alleges is a security.
XRP price on the daily chart. Source: TradingViewThe “Hinman files” relate to a speech former SEC Director William Hinman gave in 2018, and in which he appeared to state that Ethereum’s ETH was not a security.
On Tuesday June 13, 2023, the Hinman files will be released, and Ripple CEO Brad Garlinghouse has struck an optimistic tone ahead of the ruling, saying they’ve waited 18+ months for this.
The documents are key to Ripple’s defense and should it win, the effect on crypto markets, regulation and price could be massive. XRP targeting $1 would allow bulls to scout resistance levels towards its all-time high of $3.40.
Why are investors eyeing the ASI presale?
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 as the AI boom cascades from companies such as Nvidia to crypto-related projects.
With the roadmap highlighting development milestones such as a beta launch for ActualizeAI in coming months, its only likely that aspects such as listing ASI on key exchanges like Uniswap and top CEXs and expansion via OTC partnerships could help ignite further demand for ASI.
If you wish to find more aboout AltSignals and the ASI token, read their whitepaper.
AltSignals price prediction
The price of ASI rose from $0.012 during the previous stage to $0.015. It will continue to rise throughout the sale to reach $0.02274, which suggests 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.
Notably though, making a price prediction for ASI might not be easy given its 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.