XRP, SHIB, and Bitcoin Face Critical Support Levels Amid Market Weakness

XRP's Precarious Position

XRP is currently trading at $2.19, hovering dangerously close to the $2.00 support level after a brief recovery. The asset’s price movement is dictated by a descending channel on the daily chart, reinforcing the ongoing downward trend. Recent rejection at the 26 and 50 EMA zone ($2.35-$2.41) has dashed short-term bullish hopes, leaving XRP trapped in a bearish structure.

A breakdown below $2.00 could erase Q1 2025 recovery momentum and trigger a deeper correction toward $1.75. However, a bullish reversal remains possible if XRP maintains above $2.00 and regains buying momentum. The RSI, at 43, suggests a potential rebound, but this hinges on significant volume, which has been lacking during the decline.

SHIB's Fakeout Wipes Out Gains

Shiba Inu (SHIB) has lost nearly 10% of its value, falling back to pre-rally levels and erasing recent breakout gains. Trading at $0.00001273, SHIB’s recent surge proved to be a classic fakeout, shaking investor sentiment. Despite briefly breaking above the 50 EMA and $0.00001400 resistance, the meme token failed to sustain momentum, leading to a decline.

SHIB’s inability to generate sustainable volume has been a major issue, with the rally failing to attract broader liquidity. The token is currently hovering near the support zone of $0.00001270-$0.00001300, with the next potential target at $0.00001200 if this level breaks. The RSI, at 43.91, further confirms declining momentum and limited hopes for a quick recovery.

Bitcoin's Struggle to Maintain Balance

Bitcoin is trading at $83,358, barely holding above the critical $80,000 support level. The digital asset’s recent drop below the rising trendline and failure to stay above the 100 EMA ($88,000) has raised concerns about a deeper short-term decline. Bulls are struggling to maintain upward momentum, as indicated by unimpressive volume despite occasional green candles.

The RSI, at 44.17, suggests bearish momentum without being oversold. If Bitcoin breaks below $80,000, the next key supports are at $76,000 and $72,000. A deeper correction toward $68,000, where the 200 EMA resides, is possible if these levels fail. However, a bullish move toward $90,000 could still materialize if bulls regain control and push the price above $85,000.

Current indicators suggest the path of least resistance remains downward, with Bitcoin’s immediate future hanging in the balance.