Recent XRP Outflow

Recent data shows a 730 million XRP outflow from the network’s payment volume, significantly hampering XRP’s price recovery. This drop in transactional activity raises concerns about waning investor confidence.

Following an unsuccessful attempt to breach significant resistance levels, XRP has struggled to maintain its upward trajectory, with the price hovering around $2.32. The 50-day and 100-day moving averages, acting as dynamic resistance zones, prevent XRP from regaining lost ground.

XRP’s price chart shows lower highs, suggesting diminished buying pressure. The sharp decline in the volume of on-chain payments is particularly alarming; the 730 million XRP drop reflects a notable decrease in transactional activity, raising concerns about the overall network health.

A significant drop in payment volume typically indicates reduced adoption and utility, which is worrisome for any asset trying to recover. Historically, crypto price rallies have been preceded by robust network activity, but current data shows a lack of user engagement and capital flows, even during previous price spikes.

Bitcoin Faces Challenges

Bitcoin’s recent price volatility has made it challenging for the asset to maintain momentum above $90,000. According to recent indicators, the cryptocurrency may be at a turning point, despite a historic uptrend. The 1,460-day rolling ROI chart shows a downward trajectory that could have serious implications for Bitcoin’s future price.

After failing to break through the $90,000 resistance level, Bitcoin was pushed back toward the 100-day moving average. Declining trading volume suggests that both institutional and retail investors are pulling back due to a lack of significant buying pressure. If Bitcoin fails to recover key resistance levels around $92,500, it could face further downward pressure toward $85,000.

With a current long-term ROI of 1.558, Bitcoin’s profitability for long-term holders has been declining, which historically affects market sentiment. There is concern that Bitcoin may struggle to deliver substantial returns compared to earlier cycles, approaching a potential breakeven point at an ROI near 1.0. While previously low ROI levels have indicated accumulation points, Bitcoin still might reverse towards $100,000 if it maintains support above $85,000 and overcomes $90,000 resistance.

Shiba Inu on the Rise

Shiba Inu is gaining traction as it attempts to break through the critical resistance level of $0.000013. With increased trading volume and a series of higher lows, SHIB shows signs of recovery following a prolonged period of consolidation. The question remains: is this the start of a major breakout?

Currently, SHIB’s price action centers around the $0.000013 mark, a key support and resistance zone in past market movements. A clear break above this level could trigger an immediate rally toward significant resistance levels at $0.000016 and $0.000018.

The technical setup indicates that a notable price movement could happen, as Shiba Inu has historically experienced explosive price actions after breaking through consolidation zones. SHIB benefits from several bullish indicators, as the Relative Strength Index (RSI) approaches the midline, suggesting increased buying momentum. Moreover, a breakout above the declining trendline, which has restricted SHIB’s price movement for weeks, could lead to fresh buying activity. Increased accumulation often precedes price rises, as indicated by SHIB’s positive volume profile.

Though optimism is rising, traders should remain cautious. If SHIB fails to close above $0.000013 with significant volume, a retracement towards the $0.000012 support level is likely. Rejection at this level may mean further downside pressure and continuation of SHIB’s extended consolidation phase.