XRP has been trying to push through a tough spot at $0.57 but has not quite made it. There was a pretty impressive rally where the price shot up 16% from its lowest point not too long ago. It was gunning for the 200-day EMA, but the existing buying power just was not enough.
Even though XRP did manage to creep above the aforementioned line for a hot minute, it could not stay there. That is what happened with the 26-day EMA (the green line on the chart). XRP poked its head above that line but did not manage to hold on.
Despite this, XRP has been ahead of many other cryptocurrencies, jumping up by more than 6% and reaching as high as $0.57. There has been a buzz because the number of big wallets has been on the rise for the past six weeks, up by 3.1%. It is also close to hitting the highest number of whale-tier wallets ever.
Now, if we are talking about where XRP could go from here, we have to look at the levels that matter. There is support, where the price has a bit of a cushion, at about $0.55. That is where it is comfortable and does not drop below too often. For growth, we have our eyes on that $0.57 resistance, which also coincides with the 200 EMA. If XRP can break through and stay above that, it could signal a green light for the price to climb even higher. But for now, that hill is proving tricky to stay on top of.
Shiba Inu under pressure
Shiba Inu is now at a pivotal moment on the chart. The token has been actively trading at around the $0.000028 mark, aiming at a breakout above the 50-day EMA, the threshold that could decide its next direction.
SHIB is caught between two important lines — the 50 and 26 EMAs. It is stuck in a narrow hallway, deciding in which direction to move. With trading volume on the upswing, that is a hint that a volatility surge could be coming.
Now, for what really matters: if SHIB manages to move past the 50 EMA, we could see it zoom off toward higher prices. But if it takes a turn down, there is some support around the $0.000022 level, where it might land and take a break.
If the trading volume keeps creeping up, we are likely to see some price action. Will it leap up and break through resistance, or will it stumble and need to find support? Only time and the state of the cryptocurrency market will tell.
Solana stays strong
Solana (SOL) has gained a foothold above the $150 mark. However, there ia a minor issue: the 26-day moving average is acting as a stubborn resistance that SOL is struggling to break.
As SOL slowly moves above $150, the resistance posed by the 26 EMA suggests that the path ahead may not be smooth sailing. The volume, the amount of SOL being traded, is also heading downward.
That is a bit of a worry because high volumes can indicate strong support for the price level. Low volume, on the other hand, might mean there is not enough gas to keep the rally running or push the price higher.
Looking at the numbers, the immediate resistance to keep an eye on is around $160, where the 26 EMA is hovering. If SOL manages to leap over it, the sky’s the limit, but if it fails, we might see a slide down to seek support. There is a 100 EMA acting as a support at around $139, a level that previously gave SOL a foundation for a recovery.
If SOL can collect enough market enthusiasm to punch through the current resistance, we could be looking at a rally. But if it fails, the more likely outcome is a prolonged consolidation or even another correction, which might be problematic for the asset.
