LTC is currently at risk of no longer being the #2 coin. Whether it survives depends on significant developments in the Litecoin space, for example LTC on Coinbase which requires reliable LTC exchanges.
I believe the price will decay to a minimum of 0.012, especially with the BTC price increases we've been seeing lately. If the price continues to fall while BTC thrives holders will begin to lose faith in LTC and offload their coins in the worry that the decay will continue like it did in December 2013.