In a notable shift in the cryptocurrency market, Litecoin has emerged as today’s biggest gainer, marking a significant 13% increase. This resurgence has revitalized interest in large-cap altcoins. Meanwhile, XRP bulls are striving to maintain support at the critical $3 level, and two companies have made institutional purchases of Solana worth over $23 million.
Litecoin Leads the Gainers
Litecoin (LTC) has demonstrated impressive gains recently, soaring more than 12% and achieving an intraday peak between $113 and $128. Currently priced around $125, the token saw a transaction volume surge exceeding 200%, indicating robust trading activity.
Technical indicators favor a bullish outlook, as the 3-hour moving average convergence divergence (MACD) crossed above the signal line, with green histograms indicating buyer resurgence. Additionally, LTC is trading significantly above the 50 and 100-hour exponential moving averages, suggesting a strong bullish presence.
Yet, a relative strength index (RSI) of 71 on the daily chart hints at potential overbought conditions. This suggests that LTC may retrace from its current highs before targeting the $200 mark. Institutional interest from firms like Mei Pharma, combined with prospects for a Litecoin ETF, positions LTC for impressive rallies in the coming weeks and months.
XRP at a Critical Support Zone
Ripple’s native token (XRP) is currently trading at $3.03 after modest price movements on the previous day. The cryptocurrency’s structure indicates short-term challenges, with trading volume remaining relatively low. Nevertheless, prevailing sentiments could help reinforce the crucial $3 support level.
Emerging speculation suggests that Ripple’s legal battle against the SEC may soon reach a resolution. Furthermore, the company has garnered essential recognition from U.S. regulatory authorities, bolstering its position.
🚨 We’re officially 1 inch closer to the #Ripple-SEC showdown.
📅 August 15 is looming — final verdict incoming.
Buckle up. pic.twitter.com/VwIbgrBS4o— RippleXity (@RippleXity) August 5, 2025
Technical indicators support a bullish outlook for XRP, which has consolidated in a descending wedge pattern since December. This price action culminated in a breakout earlier this year, sparking a rise of over 70% in January. Analysts believe XRP could replicate this performance, with potential for a rally up to $3.75. Notably, ChartMonkey predicts XRP may exceed $4 and even reach $6 in upcoming sessions.
📈LONG: $XRP by MasterAnanda @Ripple XRP Update 🚀Support Confirmed🚀 Our next target is not $4, but now $6 & higher! The chart is showing strong momentum & we must adapt to market conditions for continued success. Lets keep aiming higher, traders. #Bitcoin #Crypto #XRPUSDT $XRP pic.twitter.com/sbkRMeat9Z
— Barry | ChartMonkey (@ChartMonkeyBTC) August 4, 2025
However, a drop below the $3 mark could delay anticipated gains and potentially lead to declines toward support levels of $2.80 and $2.48.
Institutions Invest $23 Million in Solana
Amid Litecoin and XRP’s price dominance, institutional interest in Solana is surging. BIT Mining, a prominent crypto infrastructure company, recently announced the launch of its first Solana validation node. The firm acquired 27,119 SOL for approximately $4.89 million to strengthen its Solana treasury.
According to Bo Yu, BIT’s Mining Director, “The launch of this validator is a crucial step in operationalizing our Solana strategy. We are not just holding SOL; we are helping to power the network. This demonstrates our belief in Solana’s potential and our commitment to building a meaningful infrastructure that supports its growth, security, and decentralization.”
Additionally, DeFi Development Corp has expanded its Solana holdings with a recent purchase of 110,000 SOL tokens, totaling around $18.4 million. This investment brings its total holdings to 1.29 million SOL, valued at over $215 million.
DEFI DEV CORP. $DFDV BUYS 110,466 $SOL FOR $18.4M, NOW HOLDS 1.29M $SOL WORTH ~$209M
— The Wolf Of All Streets (@scottmelker) August 5, 2025
This strategic move comes after DeFi Development Corp launched its crypto treasury strategy in April 2025. Currently, SOL is trading at $165, experiencing a slight loss of 1% over the last 24 hours.
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