Bitcoin Drives Crypto Pullback as XRP and SHIB Signal Possible Deeper Declines

• XRP reverses course amid descending channel pattern.

• Shiba Inu loses key support, signaling further correction.

• Bitcoin’s 1.8% decline highlights waning momentum and rising short positions, per exchange data.

Crypto price reversal hits XRP, SHIB, and BTC hard in latest market shift. Discover key technical breakdowns and support levels to watch. Stay informed on crypto trends—read now for actionable insights.

What causes the recent crypto price reversal in XRP, Shiba Inu, and Bitcoin?

Crypto price reversal in major assets like XRP, Shiba Inu, and Bitcoin stems from renewed selling pressure and failure to breach key resistance levels. XRP has slid 1.7% after rejecting $2.50, Shiba Inu dropped below $0.0000099 amid bearish momentum, and Bitcoin lost 1.8% from $110,000 due to increased short positions and declining inflows.

How has XRP’s technical structure contributed to its downturn?

XRP’s price has been confined to a descending channel since late August, forming consistent lower highs. It recently failed to surpass $2.70 resistance near the 50-day moving average, leading to a drop below the 200-day moving average—a classic bearish signal. The Relative Strength Index (RSI) hovers below 40, reflecting insufficient buyer interest, while rising sell volumes confirm seller dominance. According to TradingView analysis, this setup points to potential support tests at $2.20 and $2.00, with $1.00 as a distant psychological floor if momentum persists.

XRP/USDT Chart by TradingView

Without a reclaim above $2.70-$2.80, XRP’s vulnerability intensifies in the broader market context. Liquidity shifts and overall sentiment will dictate near-term trajectory, but current indicators favor continued downside.

Shiba Inu’s momentum flips

Shiba Inu (SHIB) experienced a sudden shift after an initial recovery, plunging below the pivotal $0.0000099 support and reintroducing the “evil zero” in its pricing. Trading at approximately $0.0000090, the token has declined nearly 2% in the last 24 hours, underscoring bearish control.

SHIB/USDT Chart by TradingView

The breakdown of a multi-month tightening wedge pattern has invalidated short-term bullish setups. SHIB now struggles to maintain local supports, eyeing $0.0000085 as the next base, with $0.0000075 possible in a deeper pullback. All major moving averages—50-day, 100-day, and 200-day—remain overhead, and RSI below 40 signals persistent weakness. Declining volumes further erode confidence among holders.

Recovery above $0.0000100 is essential to halt the correction; otherwise, extended downside looms unless broader crypto rebounds. Market data from major exchanges highlights this shift from optimism to caution.

Bitcoin gains wiped out

Bitcoin (BTC) has reversed its brief uptick, shedding 1.8% to hover around $108,000 after touching $110,000 earlier in the week. This erasure of gains coincides with mounting pressure on the 200-day moving average near $107,000, acting as fragile support.

Elevated selling volumes on exchanges and surging short positions in derivatives markets have fueled the decline. Institutional inflows have tapered, contributing to diminished upside momentum. Key support at $106,000 aligns with recent lows, while a breach could target $102,000, a zone of prior accumulation.

Resistance clusters between $112,000 and $114,000, bolstered by converging 50-day and 100-day moving averages that have repelled advances since early October. RSI in the 40-45 neutral zone suggests potential consolidation ahead. On-chain metrics from platforms like Glassnode indicate balanced but cautious positioning among large holders.

Bitcoin’s path forward hinges on reclaiming higher averages; sustained below $106,000 may extend the bearish phase amid global economic uncertainties.

Frequently Asked Questions

What support levels should traders watch for XRP in this crypto price reversal?

In the current downturn, XRP traders should monitor $2.20 and $2.00 as immediate supports within the descending channel. A drop below these could accelerate toward $1.00, based on historical patterns and moving average alignments, though increased buying volume might stabilize prices sooner.

Is Shiba Inu’s drop below $0.0000099 a sign of long-term bearishness for meme coins?

Shiba Inu’s breach of $0.0000099 reflects short-term bearish pressure from weak momentum and low volumes, but long-term outlook depends on broader market recovery. Stabilizing above $0.0000100 could signal reversal, while further declines test $0.0000085—voice search users note this as a common volatility pattern in altcoins.

Key Takeaways

• Bearish dominance across assets: XRP, SHIB, and BTC all show seller control via RSI under 40 and broken supports.
• Technical patterns guide risks: Descending channels and wedge breakdowns forecast potential drops to $1.00 for XRP, $0.0000075 for SHIB, and $102,000 for BTC.
• Monitor key levels: Reclaims above $2.70 for XRP, $0.0000100 for SHIB, or $112,000 for BTC could invalidate trends—act on volume surges for entry points.

Conclusion

The ongoing crypto price reversal underscores vulnerabilities in XRP, Shiba Inu, and Bitcoin, driven by technical breakdowns and subdued buying interest. As supports like $2.20 for XRP and $106,000 for Bitcoin come under test, market participants must track volume and sentiment shifts. With potential for consolidation or deeper corrections, staying attuned to these dynamics positions investors for informed decisions in the evolving digital asset landscape.