Crypto Market Under Pressure: XRP, Bitcoin, and Shiba Inu Face Key Challenges

The cryptocurrency market continues to show signs of strain, with major assets like XRP, Bitcoin, and Shiba Inu struggling to hold key levels.

XRP Nears $2 as Bearish Trends Persist

XRP finds itself in a precarious position, trading around $2.19 and dangerously close to breaching the critical $2.00 mark. Although a minor recovery from recent lows provided temporary relief, the asset remains trapped in a bearish pattern. XRP's descending channel, marked by consistent lower highs and lows, suggests that further declines are possible.

Attempts to break above the resistance zone of $2.35–$2.41 have been met with rejection, limiting bullish momentum. Adding to the concerns, XRP’s price is nearing its 200 EMA at $1.94, a level that has held as key support in the past. A failure to defend $2.00 could accelerate losses, potentially paving the way for a drop to $1.75.

The RSI, hovering at 43, hints at the possibility of a rebound, but with trading volumes muted, buying pressure remains weak. For XRP to regain bullish momentum, it must hold above $2.00 and attract stronger interest from investors.

Shiba Inu Erases Breakout Gains

After a short-lived rally, Shiba Inu (SHIB) has surrendered all its recent breakout gains, falling nearly 10%. Currently trading at $0.00001273, the meme token sits just above key support levels. The asset’s recent surge, driven by a promising break past the $0.00001400 resistance, now appears to have been a false breakout that caught bulls off guard.

The main challenge for SHIB lies in its inability to sustain buying interest. Despite initial enthusiasm, the rally lacked follow-through, with trading volumes stabilizing at low levels. If SHIB fails to hold the support zone between $0.00001270 and $0.00001300, further declines toward $0.00001200 are likely. With the RSI sitting at 43.91, a quick recovery seems unlikely unless liquidity significantly improves.

Bitcoin Eyes $80,000 Support Amid Weakness

Bitcoin faces its own struggles, currently trading around $83,358. The world’s largest cryptocurrency is teetering above the crucial $80,000 threshold, a level that, if breached, could invalidate its recent bullish structure.

Bitcoin’s loss of the rising trendline that supported its latest recovery is a cause for concern. With the 100 EMA, now at $88,000, acting as resistance, the lack of strong buying momentum has left the asset vulnerable to further declines.

A slip below $80,000 could open the door for Bitcoin to test lower support levels at $76,000 and $72,000, both of which have historically served as crucial accumulation zones. If these levels fail to hold, a deeper drop toward $68,000, where the 200 EMA resides, could be on the horizon.

For Bitcoin to regain its footing, bulls must recapture $85,000 and reignite upward momentum. However, current indicators, including an RSI near 44.17, point toward continued bearish sentiment and limited immediate upside potential.

Market Outlook

The recent struggles of XRP, Shiba Inu, and Bitcoin reflect mounting challenges in the broader cryptocurrency market. Weak trading volumes, limited investor confidence, and critical price thresholds are creating a tense environment for traders. Whether these assets can stabilize or face further losses will depend on their ability to attract renewed buying interest and break out of current bearish patterns.