Santiment, a market intelligence platform for crypto, has updated its outlook on Bitcoin, XRP, and Litecoin. Santiment believes that Bitcoin, XRP, and Litecoin are all undervalued at their current price, and that they could see further gains in the coming months.
Santiment says that Bitcoin has mostly stayed flat amid the recent bounce in the stock market. However, the analytics firm believes that Bitcoin could soon follow suit and start to rally.
Santiment points to the fact that the stock market has climbed to its highest level in about 10 months as the US government resolves the debt ceiling issue.
Santiment also notes that altcoins like Litecoin, LEO, and FGC have jumped today. With crypto lagging behind equities, there could be some BTC catch-up time coming soon.
Santiment says that the sixth-largest crypto asset by market cap is enjoying record address activity and high levels of crowd optimism. Santiment points to the fact that XRP Network is the top trending asset in crypto as prices have jumped +22% the past 19 days.
Santiment also notes that we are also seeing historically high address activity surges for the sixth-ranked market cap asset. Santiment expects XRP’s price to behave uniquely for the time being.
Santiment says that the peer-to-peer payments network Litecoin (LTC) is rising above a key psychological level. Santiment points to the fact that Litecoin’s market value is +6.5% in the past 24 hours as its halving is now just over two months away.
Santiment believes that this surge has been powered by a massive two-year high in on-chain transaction volume, and the highest whale activity since January.