Key Altcoins to Monitor This Week: Binance Coin (BNB), Litecoin (LTC), and XRP May Experience Significant Rebounds

Last week, the cryptocurrency market experienced considerable instability due to the latest inflation reports. This resulted in downward corrections for many altcoins such as BNB, Litecoin, and XRP, which hovered around their dips. Nevertheless, large investors viewed this as an opportunity to buy more, potentially leading to a significant price recovery for these altcoins this week.

**ETF Related Developments Boost Market Hope**
Despite the overall market being in a correction mode, recent developments surrounding ETFs have heightened interest in a potential rebound for altcoins.
Read more: Why Bitcoin Analyst and Influencer PlanB Convert His Bitcoin Into ETFs?
This week, XRP gained particular attention after the U.S. Securities and Exchange Commission (SEC) acknowledged ETF filings by Grayscale and 21Shares for XRP. Additionally, excitement is building regarding potential ETFs for SOL and DOGE, following the SEC’s positive response to cryptocurrency-backed ETF filings. This has provided investors with several reasons to anticipate a rebound in leading altcoin prices this week.

**Binance Coin (BNB) Price Analysis**
Binance Coin (BNB) recently experienced a decline in buying interest after failing to maintain its momentum above $700. Sellers are now targeting a retest of $650. Currently, BNB is priced at $656, reflecting a 0.2% decline in the last 24 hours.

The BNB/USDT trading pair is looking to rise to $689, but it may encounter strong resistance that could push its price down to $648. With the Relative Strength Index (RSI) at 48, just below neutral, BNB could see a rebound. However, if BNB’s price breaks above $689, it might climb toward $725. Conversely, if it falls below $648, the price could decline further to $623.

**Litecoin (LTC) Price Analysis**
Litecoin is making a strong recovery as it surges toward the high of $137. Although bears are defending resistance levels, the LTC price may continue to advance. As of writing, LTC is trading at $133, showing an increase of over 3% in the last 24 hours and 25% over the past seven days.

If the Litecoin price drops below the 20-day EMA, sellers will likely push the LTC/USDT pair down to the key support level at $114. While buyers will attempt to maintain this level, if sellers gain dominance, the price could further decrease to $100. On the other hand, if Litecoin breaks and closes above the resistance zone and surges past $150, it could indicate the end of bearish pressure, allowing the price to climb to the highly anticipated milestone of $200.

**XRP Price Analysis**
XRP’s recent trading activity, which had been confined between $2.27 and $2.55, has broken upward and is now consolidating below $2.8.

Buyers are currently working to strengthen their position by keeping the price above the $2.8 consolidation level. If successful, the XRP/USDT pair might reach the next resistance level at $3.4.
Also read: XRP Price Prediction For February 16
However, if the price sharply fails to maintain its current momentum, it will indicate that sellers are still influential at higher prices. This could lead to XRP retesting buyers’ patience at $2.5.