XRP Making Historical Breakthrough, Key Shiba Inu (SHIB) Cross Pushes Market Up, Ethereum (ETH) Not Ready to Give Up

With a sharp increase in capitalization that has moved it above Tether in the rankings, XRP is making waves once more. XRP is now firmly among the top three digital assets by capitalization, having officially overtaken the largest stablecoin in the world with a market cap of over $150 billion. 

Strong on-chain signals and a sound technical breakout support the recent spike in XRP’s value, which is not just the result of conjecture. XRP has confirmed the move with high volume on the daily chart after breaking out of a descending wedge pattern that lasted for months. Its bullish position has been cemented by the breakout above the $2.40 resistance zone and persistent trading above important moving averages, such as the 50 and 100 EMA. This upward trend is further supported by momentum indicators. 

There is potential for more upside as the RSI is still high but not yet in extremely overbought territory. Increased transaction volume and whale activity are indicated by on-chain metrics, which could indicate the start of institutional accumulation. The market’s general shift toward altcoins and the increase in network activity have made it ideal for XRP to grow in value and recognition. 

Flipping USDT in terms of capitalization is more than just symbolic; it signifies a resurgence of trust in XRP as a useful asset as opposed to a speculative altcoin. Investor confidence in XRP’s future integration into international payment systems seems to be growing as regulatory clarity surrounding Ripple’s ongoing legal battle continues to develop. 

Nevertheless, XRP continues to encounter resistance in the $2.70-$2.90 range, which might halt the current upswing. It would not be shocking to see a drawback, especially considering how big the most recent move was. As long as XRP maintains its position above $2.20, the trend is still positive.

Shiba Inu bulls gain more

In addition to price action, a crucial technical event — the bullish crossover between important exponential moving averages — has made Shiba Inu a surprising leader in the current cryptocurrency cycle. In addition to reviving momentum in SHIB, the recent cross between the 50 and 100 EMA has given the meme coin market new hope. After a protracted consolidation phase, SHIB surged higher, surpassing the resistance level of $0. 000015 and tagging $0.000017 on May 12, a level not seen in months.

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Trade volume increased in tandem with this move, indicating strong buying pressure as traders scrambled to get on the breakout wave. The asset has, however, entered a corrective phase following the euphoric push, losing about half of its recent gains. At first glance, that might seem concerning, but the context reveals otherwise. SHIB is currently retesting its breakout level and lining up with EMAs that have already been breached, which is a typical bullish retest pattern. 

The 200 EMA, which was ultimately regained during the rally, is where the price is consolidating. The 50 EMA’s continued steep upward angle has also caught the market’s attention, indicating medium-term bullish sentiment. Although the volume spike was initially caused by buying, it has tapered during the correction, indicating that profit-taking rather than panic is driving the pullback.

Ethereum wakes up

Even though Ethereum’s recent surge may be waning a little, the overall trend is still going strong. Despite the current correction, the asset’s price action still demonstrates underlying strength, suggesting that ETH is not yet ready to give up its gains. A key long-term trend indicator that frequently serves as a litmus test between bullish and bearish markets, Ethereum’s decisive break above the 200 EMA is the most noteworthy technical accomplishment. 

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With ETH now firmly above it, there may be a change in the market’s structure and a possible long-term uptrend at work. With its strong upward push, the 26 EMA appears poised to make a bullish short-term crossover with the 100 EMA.

A brief correction from the $2,700 zone has not stopped the volume from being abnormally high. This is probably profit-taking during a trend shift rather than weak-handed distribution, especially in light of ETH’s explosive rise from $1,800 to almost $2,700 in a few days. Buyer interest is still strong and is only consolidating.

Although RSI levels have retreated from the overbought area, they are still above the neutral line, indicating that the bullish momentum has not been completely destroyed but has instead been moderated. As long as Ethereum stays above $2,400 and stays close to recent highs, the bulls will continue to have firm control.