Ah, the world of cryptocurrency, where fortunes are made and lost faster than you can say “blockchain.” XRP, that plucky little asset, is currently trading at $2.19, teetering on the edge of the $2.00 abyss like a tightrope walker with a hangover. Earlier this week, it dipped to $2, and while today’s recovery might give you a fleeting sense of relief, the overall picture is about as stable as a Jenga tower in an earthquake.
The daily chart’s descending channel is still calling the shots, with lower highs and lower lows, confirming the long-running downward trend. Any hopes of a short-term bullish surge were dashed by the recent rejection at the 26 and 50 EMA zone, hovering around $2.35-$2.41. Until this range is decisively broken, XRP remains trapped in a bearish structure. The closer it gets to the 200 EMA at $1.94, the more it feels like watching a slow-motion car crash.
A breakdown below this level could erase all the recovery momentum from Q1 2025 and trigger a more significant correction toward the $1.75 region. However, if XRP can hold above $2.00 and generate some buying momentum, a bullish reversal might still be on the cards. The RSI, currently at 43, suggests a rebound could be imminent, but only if significant volume appears, which has been conspicuously absent during this decline.
Whether bulls can maintain $2.2 as a technical and psychological support is crucial to XRP’s immediate future. A plunge below this level could accelerate panic selling and test long-term support zones. On the other hand, a strong bounce with follow-through might reopen the door toward the resistance level of $2.30.
Shiba Inu falls back
Shiba Inu, the meme token that had us all barking with excitement, has lost almost 10% of its value and fallen back to pre-rally levels, effectively wiping out all its recent breakout gains. At $0.00001273, just above key support, SHIB is currently trading, confirming that its recent surge was a classic fakeout — a brief rally that swiftly collapses, trapping bulls and shaking sentiment. Just a few days ago, SHIB showed promise when the price broke through the 50 EMA and above the resistance level of $0.00001400.
Traders were hopeful that the asset was about to turn around, with their sights set on the 100 EMA close to $0.00001640. But as soon as it appeared, the momentum vanished. SHIB was rejected and started to decline instead of buying, which completely erased its short-term breakout gains.
Currently, SHIB’s largest issue is its inability to generate sustainable volume. The rally generated interest for a short while, but there was no subsequent demand. Since then, volume has stabilized, suggesting a lack of broader liquidity that is necessary to support upward price movement as well as low buyer conviction.
Additionally, SHIB is currently hovering around the support zone between $0.00001270 and $0.00001300. The level around $0.00001200, which served as a crucial accumulation level in March, may be the next likely destination if this level breaks. The RSI, which is currently at 43.91, confirms the decline in momentum and offers little hope for a quick recovery.
Bitcoin loses balance
Bitcoin, the granddaddy of all cryptocurrencies, is currently trading at about $83,358 and is balancing just above the crucial $80,000 threshold. Concerns regarding a more severe short-term decline have been raised by the digital asset’s obvious signs of weakness after it broke below the rising trendline that underpinned its most recent recovery.
The 100 EMA, which used to serve as dynamic resistance, is now close to $88,000, and Bitcoin has failed to maintain its position above it. It is evident that bulls are having difficulty maintaining any significant upward momentum when this important moving average is rejected. Should Bitcoin lose its hold on the $80,000 region, the recent bullish structure may be completely invalidated.
This bearish thesis is also supported by the volume profile. A lack of buying interest at current price levels is indicated by the volume, which is unimpressive despite the occasional green candle. Momentum is leaning to the bearish side without being completely oversold as further confirmed by the Relative Strength Index (RSI), which is currently trading close to 44.17.
If Bitcoin breaks below $80,000, the next crucial support is located close to $76,000 and then $72,000, which were both important areas for accumulation in previous corrections. A deeper correction toward $68,000, where the longer-term 200 EMA sits, might be possible if these levels are broken. On the other hand, a move toward $90,000 might still be feasible if bulls can retrieve control and raise the price back above $85,000. Current indicators, however, indicate that the downward path of least resistance is still in place.
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2025-03-31 03:11