XRP Double Bottom at $1.40, ETH Rejects ₱182,222 ($3,000)
XRP is forming a base above $1.40 after months of decline, with technical indicators suggesting a possible double bottom pattern. Ethereum rejected a push toward ₱182,222 ($3,000) but held the ₱139,703 ($2,300) to ₱145,777 ($2,400) range.
Key Takeaway
All three assets show consolidation without conviction — XRP's double bottom needs volume, ETH must hold $2,200.
XRP has stabilized above $1.40 after months of decline, creating what technical analysts call a potential double bottom pattern. The asset retested similar lows twice without breaking lower, forming a tightening range between declining resistance and rising local support.
The compression stage frequently precedes expansion, though the setup remains neutral rather than overtly bullish due to low trading volume. Momentum indicators are stabilizing and shifting from oversold conditions, but XRP still trades below long-term averages. If the pattern holds, the initial target range sits between $1.50 and $1.53.
Ethereum's recent attempt to push toward ₱182,222 ($3,000) was nullified as the asset retreated after briefly testing higher levels. The breakout lacked volume increase, a red flag for traders watching for sustained momentum. ETH has reclaimed the $2,300 to $2,400 range after falling below $2,000 earlier in the year, but hesitancy persists just below the resistance cluster.
The structure isn't completely pessimistic. A pattern of higher lows remains intact, and ETH continues trading above short-term moving averages. Immediate downside support sits between $2,200 and $2,100, where the structure's lower boundary coincides with moving averages. If that zone fails, a deeper decline toward $2,000 becomes likely.
Shiba Inu is moving in a shallow upward structure with little power behind the movement. The memecoin has begun printing marginally higher lows after prolonged decline, creating a modest ascending channel. Every attempt to push higher has been contained without follow-through, with trading activity failing to increase alongside the price rise. SHIB remains below important long-term resistance levels.
The lack of conviction across all three assets indicates equilibrium rather than directional momentum. XRP's double bottom pattern could target $1.53 if volume returns, while Ethereum must hold support between $2,200 and $2,100 to preserve its recovery narrative, with SHIB needing to break above long-term resistance to confirm any trend change.
This article was written based on reporting from U.Today.
