From Investing.com:

XRP has experienced its biggest price drop since August, with a massive sell-off liquidating millions of dollars worth of derivatives. The sudden downturn has erased the previous accumulation phase, leaving traders surprised and disrupting trading portfolios.

The chart analysis shows a sharp sell-off, indicating that sellers have overwhelmed buyers. This sudden drop has significantly dented confidence in XRP’s immediate growth potential, casting a shadow over short-term recovery prospects.

The surge in volatility following the drop could attract fresh funds and opportunistic traders, leading to increased trading activity and potential price correction.

Ethereum’s performance against Bitcoin is showing signs of strengthening, with the ETH/BTC pair forming a “higher low” pattern. This suggests a potential weakening of the previous downtrend and could prelude a reversal, enticing risk-tolerant investors back into the market.

The chart shows Ethereum’s price stabilizing and possibly gearing up for an upward move, with the convergence of moving averages and the leveling off of the RSI indicating a shift in momentum in favor of bulls.

The recent substantial price drop in SHIB has raised questions about the meme token’s future, with the chart analysis revealing a dramatic sell-off and nullification of the previous accumulation phase. This could be a signal of a broader funds migration away from high-risk meme coins like SHIB in favor of more established assets amid market derisking.



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