XRP’s price is now looking likely to fall further after breaking through a key support level that had been in place since February. We’re seeing a similar downward trend for other cryptocurrencies like Cardano and Shiba Inu.
Recalibration of momentum
As an analyst, I’m seeing a concerning signal in XRP’s price action. The recent break suggests buyers are losing steam and aren’t stepping in to support higher prices. What really worries me is the broader trend: all the key moving averages – the 26-day, 50-day, and especially the 200-day – are still trending downwards, and XRP remains below them. This confirms a continued bearish outlook.
This pattern confirms a strong downward trend over the long term. Essentially, the break of the recent upward trendline removes the last bit of evidence suggesting the price might still rise in the short term.
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Initially, things become riskier. When a support level is broken, it often becomes a new resistance level. Instead of bouncing back up, any attempt to regain the previous upward trend will likely be met with selling pressure.
Trading volume isn’t providing a clear signal. Following the recent drop, we’re not seeing strong buying activity to recover the price. Instead, the price is falling with typical trading levels, suggesting a steady, but persistent, selling trend – not a sudden rush to sell, but selling pressure nonetheless. This slow decline often lasts longer than a dramatic price drop.
Currently, XRP’s price could fall back to the $1.30 to $1.35 range. If it drops below that, further declines are likely, potentially reaching the $1.00 mark as selling pressure increases.
Essentially, a key support level disappears if the upward trendline is broken. Unless XRP quickly recovers and re-establishes that trend, the price is likely to continue falling.
Cardano’s strong foundation
Cardano is currently trading around $0.25, a key price level where it has historically found buying support.
This area represents the final major support level before the asset could fall much further after a prolonged period of decreasing value. The key question is whether this support will hold.
The price level of $0.25 has acted as a support level, meaning buyers have stepped in when the price dropped to that point. While the price has bounced back from this level several times, these rebounds have been weak and haven’t led to significant price increases. This pattern suggests that sellers are gradually taking control, rather than buyers building up their positions.
Cardano should be comfortable
The overall market downturn is also affecting Cardano. Its price remains significantly below key moving averages (26, 50, and 200 EMA), and these averages are all trending downward, confirming a bearish outlook. When this happens, support levels tend to weaken, especially if they are repeatedly tested.
The situation is made more complex by how little trading is happening at around $0.25. We aren’t seeing a significant increase in buying, which suggests larger investors aren’t strongly committed. Usually, strong support levels come with a lot of demand, but that isn’t happening here, making the price vulnerable to further decline.
If the price falls below $0.25, it could quickly lead to further losses. Without much support nearby, the price might easily drop to around $0.20.
No, the $0.25 level isn’t a solid support price. While it’s currently holding, it seems like a temporary buffer rather than a reliable base, given the current market conditions. Unless we see changes in trading volume and the overall trend, it’s more likely the price will fall further than recover significantly.
Shiba Inu’s troublesome recovery
Shiba Inu has repeatedly tried and failed to break past a certain price point, which strongly suggests the recent optimistic outlook is no longer valid. However, a small price increase could signal a potential shift.
Every time the market tries to recover, it fails at a lower price point, confirming the continuing decline. This pattern is clear: any upward movement quickly loses steam and prices fall back down instead of rising.
The consistent inability to push higher suggests buyers are losing steam. Currently, the 50-day Exponential Moving Average is acting as a strong resistance level, proving difficult to break through.
Looking at the charts, I’m not seeing any clear breaks above that price level – we’re still getting consistent rejection. This is pretty standard in a strong uptrend; dynamic resistance keeps pushing the price down, and Shiba Inu is behaving exactly as expected within that pattern.
The main problem is the low trading volume. We’ve consistently seen fewer trades happening, suggesting that fewer people are participating. Interest isn’t suddenly dropping off, but there’s no new demand or investment coming in either. When volume decreases during a price drop, it usually means the price will likely continue to fall, rather than bounce back.
However, there’s another side to consider. A decrease in trading volume could also suggest that sellers are running out of steam. The problem is that for prices to rise, demand needs to significantly increase, and right now, there’s no sign that’s going to happen.
SHIB is currently in a downtrend, consistently making lower highs and lower lows. It’s too early to talk about a recovery until this pattern reverses. For sentiment to improve, SHIB needs to break above the 50-day Exponential Moving Average (EMA) and maintain that level with strong trading volume.
Right now, it’s clear that recent attempts to push the price up have failed, disproving the idea that SHIB is about to rise. The price is still falling, and it needs a major increase in both trading activity and a better price pattern before it can start to improve.
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2026-03-24 03:14