Litecoin might jump XRP by the end of 2019

11 Mar, 2019 | Updated: 11 Mar, 2019
by Joeri Cant
News
Litecoin might jump XRP by the end of 2019

Billy Bambroug, a Forbes contributor, seems to believe that the 4th largest cryptocurrency, Litecoin, might jump XRP and take 3rd place before the end of 2019.

The Forbes contributor points to the facts that the Litecoin price has been responding positively to strong efforts by the Litecoin Foundation and developers to improve security and privacy for the coin.

Bambrough further adds to his article that LTC’s halving is set to occur in 5 months time, which will reduce the block reward for miners and thereby increase the scarcity of the coin.

Halvings typically generate a higher price valuation, given the supply change, however, it remains to be seen if it will have any long-term effect on its price during this prolonged crypto winter.

According to the crypto and blockchain editor, SFOX, released a report this week, where they stated that Litecoin volatility spiked when the Litecoin Foundation announced it's exploring the integration of Mimblewimble, a protocol offering privacy and fungibility to blockchains.

'In March, keep an eye on how privacy news moments impact markets, such as recent revelations over Coinbase’s third-party service provider selling client data', the report further added.

Read more: Bitcoin on track to $20,000 ... by 2021

In regards to XRP, Brambrough is less positive. He points out several number of negative press events for the current third most popular cryptocurrency in the world and associated company Ripple, such as the new flow of banking partnerships appearing to have slowed down, and the newly announced JPM Coin.

Although most of the cryptocurrency experts have called out the JPM coin as a 'fraud', Brambrough still believes that the announcement by J.P. Morgan to create the JPM Coin has soured investor interest in Ripple and XRP.

Bambrough claims that the shifting landscape of cryptocurrency in favor of Litecoin, could be enough for Litecoin to flip XRP by the end of 2019.

However, Bambrough himself, points to the fact that Litecoin has still a long way ahead of itself, before it can jump XRP as the third biggest cryptocurrency by market cap.

Read more: Charlie Lee: Bitcoin will hit $20k within the next 3 years

He further quotes a note by eToro’s senior market analyst Mati Greenspan, who has similar positive feelings about Litecoin's future.

'The number one real-world usage of litecoin it seems is as a settlement method for crypto-traders. For people who often send money from exchange to exchange to private wallets, it’s much cheaper and faster to do this with litecoin than it is with Bitcoin.'

'This is why it indeed deserves the title ‘digital silver’ and with the upcoming halving event in early August, which is likely why it’s been outperforming the rest of the crypto markets lately.'

What do you think? Can Litecoin jump XRP by the end of 2019? let us know in the poll below.

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