XRP is still at the top of the cryptocurrency market, rising 20% ​​in just one day to reach $2.44. Its market capitalization is currently $132 billion, making it the fourth largest cryptocurrency by market value. This increase, along with increasing investor optimism, has fueled discussions about whether XRP will soon reach $3.

According to the price chart, XRP has experienced a parabolic rise and has significantly surpassed several resistance levels, including the notable $2 milestone. Strong trading volume is supporting this uptrend, particularly on South Korea’s Upbit exchange, where it reached $3.69 billion. XRP’s strong position in the current market cycle has been underlined by the significantly lower trading volumes of Ethereum and Bitcoin. Now the question is whether XRP can continue on this path and reach $3.

Given the current dynamics, this seems likely. Around $2.75 is the next key resistance level, which if broken could open the door for a breakout above $3. Priced above $3, XRP will reach new heights for this rally, potentially reaching $3.50, depending on market conditions and continued interest from institutional and retail investors. However, it is important to remember that XRP’s RSI is at 87, which suggests that the market is overbought.

This increases the likelihood that there will be a period of consolidation or pullback before a further rise. The $1.70 and $2.20 levels are important support levels to keep an eye on as they will act as a buffer in the event of a correction. XRP’s rise to $3 is now a reality. With record-breaking trading volumes and strong fundamentals, this ambitious goal has a solid foundation.

Shiba Inu attracts attention

With an outstanding breakout, Shiba Inu has caught the market’s attention and strengthened its position above the critical $0.00003 level. This move shows new momentum as SHIB has effectively overcome significant resistance levels, driven by strong buying interest and increasing trading volumes.

According to chart analysis, the recent rally suggests that SHIB is emerging from a period of consolidation driven by an increase in market activity. A positive note is the price’s continued upward momentum, even though it briefly touched $0.000031 before declining slightly. The 21 EMA served as reliable support, and the strength of this move was further supported by the breakout and an increase in trading volume.

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However, it is not safe to stay above $0.00003, especially given the larger market dynamics. The overall state of the cryptocurrency market is still unstable and SHIB’s RSI is overbought at 70, suggesting that a short correction or consolidation could occur. The $0.000027 level could provide immediate support in the event of such a pullback, with $0.0000249 being the next crucial level to watch.

On the positive side, additional gains could be possible if SHIB can maintain its position above $0.00003. Based on market sentiment and continued bullish momentum, a successful move beyond $0.000032 could lead to $0.000035 or even $0.00004. To continue its upward trend, SHIB needs sustained support from the larger market, particularly Bitcoin and Ethereum, which often drive altcoin moves.

Bitcoin not ready yet?

Bitcoin appears to be stalling as it approaches the highly anticipated $100,000 milestone. The cryptocurrency appears to be consolidating below $98,000 after a remarkable rally in recent weeks, raising questions about whether bullish momentum is fading or merely stalling for a major market move.

According to chart analysis, Bitcoin is currently trading at around $96,000, just below the psychological resistance level of $100,000. A break above this level, which serves as a significant barrier, could trigger the subsequent increase in bullish momentum. As market sentiment cools and profit-taking increases, the longer Bitcoin struggles to regain $100,000, the more likely a decline is.

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The recent breakout zone and the 21 EMA are at $90,400, providing key support. Bitcoin could move towards the $80,400 support, which coincides with the 50-EMA and acts as a robust safety net for the current uptrend if it breaks below this level, which could indicate additional bearish pressure.

With a current Relative Strength Index of 71, the market is overbought. While this is not necessarily a sign of a bearish trend, it does indicate that the market may be going through a period of consolidation or a short correction before attempting to rise again. Strong buying pressure is needed to break the current resistance levels for Bitcoin to regain its bullish momentum and move towards $100,000. Bulls could be able to clear the path towards $100,000 and possibly $105,000 again if they can push the price above $98,000 with significant trading volume.