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2025-01-13 05:00:56

Huge XRP Breakout to Launch Skyrocketing Rally, Shiba Inu

Jenny Jones-author-image Camillia Cyrus
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The fact that XRP has now broken through a significant falling trend resistance level raises the possibility that a strong bullish rally is about to start. With this breakout, traders have a clear sign that trends may be heading upward after weeks of holding within a more limited range.

The optimistic sentiment is supported by the recent spike above the $2.30 level, which saw XRP close above the trendline and significant moving averages, such as the 50 EMA. This stage now serves as a strong basis for further advancement.

XRP Breakout

If the bullish trend stays, $2.50 and $2.70 are the next crucial resistance levels to watch. XRP might target $3.00, a psychological hurdle that may revive investor interest if it can successfully go above these levels. Although the breakout is valid, more buying pressure may assist the rally in finding more traction, as indicated by the breakout volume, which is notable but not yet violent.

There is still potential for more gains until the market gets overbought, as indicated by the current RSI of 59. The falling trendline, which is now acting as support at around $2.20, maybe reviewed if XRP is unable to hold its position above $2.30.

The price may go towards the $2.00 level, which is in line with the 100 EMA, if this level is broken, denying the bullish setting. Ultimately, the breakout of XRP opens the door for a potential bullish rebound, with $3.00 as the key long-term target.

Shiba Inu Heading Forward

Shiba Inu is starting to develop a head-and-shoulders sequence, a negative structure that often implies a potential downward dive. Traders and investors should closely monitor this pattern as the asset suffers near significant support levels.

The price of SHIB is currently trading slightly over the 200 EMA, near $0.0000200. This level kept a more serious sell-off by acting as a solid support region. However, the pattern's neckline, which is located at roughly $0.0000215, is still quite important. A verified fall below this level might result in a strong move toward the next significant support at $0.0000180, consistent with recent buyer zones.

Bitcoin has to Wake Up

Bitcoin appears to be falling behind other digital currencies in terms of price movement as the cryptocurrency leader is stuck in an extremely volatile era. This impasse is starting to worry traders and investors who are looking for a significant directional move. Bitcoin is struggling to sustain pace after a spectacular gain in late 2024, and it is currently trading at about $94,000.

The lack of significant price fluctuation starkly contrasts other cryptocurrency market assets' more active performance. This poor activity has prevented Bitcoin from attracting traders or boosting confidence in a potential breakout. The daily chart shows that the price of Bitcoin is settling below the 50 EMA, a critical resistance level near $97,000.

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