XRP Bear Trap at $1.30, SHIB Eyes Bull Confirmation
XRP and SHIB show low-volume declines suggesting accumulation rather than capitulation. SHIB printed its first higher lows in months, with a breakout above the 50 EMA zone between 0.0000060 and 0.0000062 signaling potential bull market confirmation. Ethereum developed a rising support trendline while defending the critical ₱121,095 ($2,000) level.
Key Takeaway
Low-volume declines in XRP and SHIB signal accumulation, not capitulation—but both need decisive breakouts to confirm reversals.
XRP sits between $1.30 and $1.35 while trading below its 50, 100, and 200 EMAs—all sloping downward. But volume hasn't spiked since the recent decline, suggesting passive accumulation rather than panic selling. The token formed a rising local trendline while holding its yearly low. If XRP breaks down from here, it could test $1.20 or lower. Ripple's SEC victory earlier this year enabled XRP spot ETF launches, and Alibaba's Kimi AI predicts XRP could reach ₱484 ($8) by 2027—a 277% jump from current levels.
Shiba Inu printed higher lows for the first time in an extended downtrend that lasted months. A rising local trendline emerged, marking the first bull signal in a long time. The memecoin faces resistance at its 50 EMA, located between 0.0000060 and 0.0000062. A break above that zone would confirm the bull market thesis. Volume remains comparatively moderate for SHIB. Alibaba's Kimi AI forecasts SHIB could hit $0.00067 by 2027, a 7,725% gain if the rally materializes. XRP and SHIB showed unusual trading correlations despite different volume declines—SHIB dropped 54% while XRP fell 42.7%.
Ethereum developed a rising support trendline from the ₱108,986 ($1,800) area and printed higher lows against it. The network defends the critical ₱121,095 ($2,000) support level after spending time above ₱181,643 ($3,000) earlier. ETH hasn't reversed its macro downtrend despite several rally attempts over the past few months. Correlation tensor spectra analysis of XRP networks found the largest singular value negatively correlates with XRP/USD price at r=-0.68, providing early price signals that correctly predicted the January 2018 peak.
This article was written based on reporting from U.Today.
