In the volatile world of crypto analysis, two popular altcoins, SHIB and XRP, are currently navigating critical price points. Both digital assets are testing support areas that have historically proven significant, prompting traders to watch closely for signs of renewed momentum.
Shiba Inu (SHIB) is trading near $0.00001157, positioning it within a well-established support range between $0.00001150 and $0.00001250. This zone served as a critical floor during the consolidation period observed from August to September of the previous year, highlighting its importance for buyers.
While the broader trend for SHIB remains bearish, with its price below key moving averages, momentum indicators show easing downward pressure. The Relative Strength Index (RSI) sits near 42.81, indicating neither strong selling nor oversold conditions, which could allow for recovery. A flattening RSI, especially near key support, often precedes upward price action. The MACD histogram’s flatness also suggests waning selling intensity. Understanding such technicals is key in cryptocurrency trading.
A decisive move above the $0.00001212–$0.00001270 resistance area, which includes the 20-day EMA and nears the 50-day SMA, would represent the first significant bullish signal. This cluster previously acted as support before becoming resistance, making it a pivotal level. Clearing this hurdle could pave the way towards the $0.00001545 level (100-day SMA).
Ripple’s XRP token currently trades at $2.0749. This price level notably provided support in late December of the prior year before a significant bullish rally pushed prices towards $3 by early January. Careful observation on reliable crypto exchange platforms is crucial for tracking these movements.
Recent price action saw XRP attempt to establish a higher high, testing the 20-day Exponential Moving Average ($2.1039) and briefly touching the 50-day Simple Moving Average ($2.2375). Furthermore, XRP recently bounced strongly off the 200-day SMA ($1.9118) around April 9, accompanied by a significant volume increase, indicating buyer interest.
Bullish signals are also emerging from indicators. The MACD line recently crossed above its signal line, turning the histogram positive – an early sign of upward momentum. The RSI reading of 46.92 suggests ample room for further price appreciation before reaching overbought territory.
A sustained close above the $2.14–$2.23 range (housing the 20 EMA and 50 SMA) would strengthen bullish convictions, potentially targeting the $2.48 mark (100 SMA). Echoing this sentiment, analyst @Dom highlighted $2.20 as a key objective in a recent social media post, suggesting a breakout could lead towards $2.50.
