- XRP and LTC both rose more than 18%.
- Their prices have also fallen by more than 6%.
Following Bitcoin [BTC] surge past the $70,000 price range, several altcoins went on a winning streak, with notable increases seen in Ripple [XRP] and Litecoin [LTC].
The question remains: have these altcoins managed to sustain the rally?
XRP and Litecoin lead the social and market activities
XRP and Litecoin witnessed a flurry of social activity at the end of trading on March 11.
While much attention was paid to Bitcoin’s impressive climb, these altcoins experienced a notable increase in their social dominance.
According to AMBCrytpo’s analysis via Santiment, XRP’s social dominance rose to around 2.24%. Litecoin followed suit, rising to 1.2% on the same day.
These changes were significant considering their previous levels. At the time of writing, social dominance had fallen to around 1.8% and 0.9% respectively.
Source: Santiment
Furthermore, AMBCrypto is looking at LunarCrush’s Data showed that XRP and LTC led other altcoins in terms of volume of social activity.
Santiments Market activity data also indicated that XRP and LTC were among the top performers, with prices up more than 13%, only behind Ton.
XRP and Litecoin see record volume
XRP and Litecoin also saw significant increases in trading volumes, reaching levels not seen in months.
On March 11, XRP trading volume exceeded $6 billion, the highest volume in more than seven months.
At the time of writing, volume had increased further to over $7.3 billion, marking another high. The last time XRP saw such substantial volume was in July, with figures exceeding $23 billion.
Source: Santiment
Similarly, Litecoin saw a notable increase in volume on March 11, after a period of decline to around $1.07 billion.
At the time of writing, Litecoin volume had risen to over $1.6 billion, reminiscent of the June timeframe when volume exceeded $3 billion.
XRP and Litecoin could not sustain the rally
XRP and Litecoin saw a significant price increase on March 11, leading to an increase in volume and social activity.
The price of XRP rose by over 18% to reach around $0.72, marking the biggest increase since July 2023. However, at the time of writing, the price had fallen by over 6% and was trading around $0.69.
The decline indicated challenges in sustaining the rally.
Also, the increase in volume indicated a dominance of sellers in trading activities.
Source: trading view
Similarly, on March 11, Litecoin witnessed an 18% surge to reach around $103.8, a level not seen since 2023.
Despite this remarkable increase, Litecoin’s price could not maintain its momentum and was down over 6% at the time of writing to around $97.2.
Source: trading view
Additionally, the Relative Strength Index (RSI) for both altcoins fell below 64. Analysis showed that while the rise briefly pushed the RSI above 70, it fell back below 70 as prices fell.
The RSI state suggested that XRP and Litecoin were still in a strong bull trend despite the minor setbacks.
The supply of profits shows different patterns
Over the past 24 hours, both XRP and Litecoin have shown similar price trends. However, a closer look at the total profit offering revealed that XRP had a larger share than Litecoin.
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AMBCrypto’s analysis of the total supply of profit statistics on Santiment showed that XRP had approximately 91.3 billion coins in profit. At the time of writing, this number represented more than 91% of the total supply.
On the other hand, Litecoin’s analysis showed that more than 58.1 million of the supply was profitable, representing approximately 78.2% of the total supply at the time of writing.