In the past 2 months or so, we've seen Litecoin go from prices in the 60-70 dollar range to over 300 usd. The thing about this rise though is that the transaction fee is also much higher in fiat currency. It used to be that you could send or receive LTC for a fee of only about 60 cents or so worth of LTC, but currently it costs over 3 US dollars worth.
Basically LTC's transaction fees are far higher than BTC's, so if Litecoin rises very much, it seems like this could become a significant issue. Hopefully the developers involved with Litecoin will try to address this in time.
Currently Litecoin is being pointed to as a cryptocurrency that's much more well suited to being used as a currency instead of as digital gold like BTC. That whole point will be defeated if transaction fees cost too much for it to be used for micro transactions.
Anyway, just my thoughts on it. I actually think Litecoin has been one of the better systems in the space so far.
Disclaimer: This is not financial advice. Do your own research before making any investing or trading decisions.