2 Trending Crypto To Buy As Ripple vs. SEC Case Climax Builds

Crypto investors have many reasons to smile on Monday as the market extends the weekend recovery. Bitcoin topped $64,000 earlier in the day but struggled with resistance at $65,000. Top crypto to buy like XRP, a leading cross-border money remittance token, show signs of further price movement, especially with the Ripple vs. SEC lawsuit entering the homestretch.

The Two Leading Crypto To Buy In May

Overall, April was a bearish month breaking the crypto market’s longstanding bullish streak from Q4 last year. Despite being the Bitcoin halving month, volatility rocked cryptocurrencies.

One of the major sell-offs occurred courtesy of the war in the Middle East. The geopolitical tensions that transpired between Israel and Iran amid the involvement of the US saw a major downturn in prices.

With inflation holding steady across major economies globally, risk assets are likely to bear the biggest brunt.

On the other side of the fence, this could be a good time to adopt key dollar-cost averaging strategies that allow investors to buy when prices are falling to maximize profits in the long run.

Altcoins to buy like XRP and Litecoin (LTC) appear significantly depressed against BTC, suggesting that it might be an opportune time to load up.

1. XRP

The performance of XRP also hinges on the ongoing lawsuit between Ripple, the issuing company, and the Securities and Exchange Commission (SEC).

Although Ripple celebrated a partial landmark win in July 2023 when the court declared secondary sales of XRP not to constitute securities, the agency has since focused on making the blockchain company pay for its role in direct institutional sales.

The outcome of this case could determine whether XRP price drastically explodes above $1 while targeting the all-time high of $3.4, or drops to near zero levels.

The next few weeks are important to both Ripple and the SEC as they battle to tip the scale in their favor. On April 22, Ripple filed its response to the agency, arguing against the $2 billion penalty proposed by the regulator. The SEC is expected to reply to Ripple’s arguments in a filing on May 6.

Case watchers say that a settlement may arise anytime between now and the ruling anticipated around September. Moreover, an appeal is possible from either of the parties.

A buy signal from the Moving Average Convergence Divergence (MACD) reinforces the new bullish outlook. As the indicator rises into the positive region, the path of least resistance will remain upward.

XRP price chart | Tradingview

Key achievements traders will look for as they bet on a price increase to $1 is the defeat of resistance at the 50-day EMA and the 200-day EMA (the red and purple lines on the chart). Other key milestones include $0.65 and $0.75.

2. Litecoin (LTC)

Over the past two months, Litecoin’s daily chart has shown a huge price swing from $113 to $74.5 levels, but only extending sideways. While this consolidation showcases a lack of indication from buyers to sellers, the asset has managed to hold its value above $74.5.

Litecoin price chart

Recent data from Santiment, highlighted by trader Kamikaze, reveals intriguing insights into Litecoin (LTC) market dynamics. Despite a decline in Bitcoin’s price, substantial accumulation by whale investors suggests a potential long-term bullish sentiment among key holders.

If the bullish momentum persists, the LTC price could gain another 8.6% and develop a bullish reversal pattern called a double-bottom. A breakout above the $88.6 neckline which is also the last swing high will signal an initial signal of trend reversal.

A post-breakout rally could push the LTC price to a potential target of $100, followed by $112.

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