XRP has made a notable surge, gaining 20% in a single day to reach $2.44, with its market capitalization now standing at $132 billion, making it the fourth-largest cryptocurrency. This impressive rise has sparked speculation that XRP may soon hit the $3 mark, particularly as it has surpassed key resistance levels, including the significant $2 threshold.
Backed by strong trading volume, especially on South Korea’s Upbit exchange, where XRP recorded a massive $3.69 billion in trades, the cryptocurrency is showing a distinct position in the market. Compared to Ethereum and Bitcoin, XRP is attracting considerable attention, though questions remain about whether this momentum can propel it to $3.
The next major resistance level lies around $2.75, and if XRP surpasses this point, a breakout toward $3 could be imminent. A price above $3 might even push XRP to new rally highs, potentially reaching $3.50, contingent on continued investor interest. However, with an RSI of 87, signaling that the market is overbought, consolidation or a pullback is possible before further gains. Support levels at $1.70 and $2.20 will be crucial in case of a correction.
Shiba Inu Breaks Out, Eyes Further Gains Above $0.00003
Shiba Inu (SHIB) has gained significant traction, breaking past the crucial $0.00003 level. The rally indicates a new phase of momentum, as SHIB surmounts substantial resistance, supported by increasing buying interest and trading volumes. Despite briefly touching $0.000031 before retracing, the coin is showing consistent upward movement, with the 21 EMA acting as a solid support.
While SHIB’s RSI is at 70, suggesting it may be overbought, the cryptocurrency could continue to climb if it stays above $0.00003. A breakthrough above $0.000032 could push SHIB to $0.000035 or even $0.00004. However, SHIB’s price could face challenges if the broader market dynamics shift, especially if Bitcoin and Ethereum experience corrections. Key support levels to monitor include $0.000027 and $0.0000249.
Bitcoin Struggles to Break $100,000, Faces Potential Consolidation
Bitcoin is facing resistance as it nears the psychological $100,000 level, with its price hovering just below $98,000. After a notable rally in recent weeks, Bitcoin seems to be consolidating, raising questions about whether the market is stalling or preparing for a larger move.
Currently trading near $96,000, Bitcoin faces key resistance at $100,000, which, if breached, could trigger a fresh bullish surge. However, with an RSI of 71, the market is showing signs of being overbought, which could lead to a period of consolidation or a brief pullback. If Bitcoin struggles to reclaim $100,000, it may face a correction toward $90,400, which is supported by the 21 EMA. If it falls further, the $80,400 mark, in line with the 50 EMA, could act as a safety net.
For Bitcoin to continue its upward momentum, strong buying pressure is needed to push past resistance levels. A successful break above $98,000 could open the door to a move toward $100,000 and potentially $105,000.
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